Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Declares Monthly Dividend of $0.05

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) announced a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Thursday, May 22nd will be paid a dividend of 0.0525 per share by the financial services provider on Monday, June 2nd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Thursday, May 22nd. This is a boost from Western Asset Investment Grade Income Fund’s previous monthly dividend of $0.05.

Western Asset Investment Grade Income Fund has raised its dividend payment by an average of 2.9% annually over the last three years.

Western Asset Investment Grade Income Fund Price Performance

Western Asset Investment Grade Income Fund stock traded up $0.06 during trading hours on Thursday, hitting $12.66. The company had a trading volume of 16,168 shares, compared to its average volume of 16,084. The company has a 50-day moving average price of $12.48 and a two-hundred day moving average price of $12.59. Western Asset Investment Grade Income Fund has a 1 year low of $11.65 and a 1 year high of $13.18.

Institutional Trading of Western Asset Investment Grade Income Fund

A hedge fund recently raised its stake in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE grew its stake in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,694 shares of the financial services provider’s stock after acquiring an additional 2,267 shares during the quarter. Bank of America Corp DE owned about 0.09% of Western Asset Investment Grade Income Fund worth $109,000 at the end of the most recent quarter. 18.99% of the stock is currently owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Company Profile

Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.