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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) announced a monthly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders 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 4.96%. The ex-dividend date is Thursday, May 22nd.

Western Asset Investment Grade Income Fund has increased its dividend by an average of 2.9% per year over the last three years.

Western Asset Investment Grade Income Fund Stock Up 0.4 %

Shares of Western Asset Investment Grade Income Fund stock opened at $12.69 on Friday. The company has a 50 day moving average of $12.48 and a 200-day moving average 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 boosted its stake in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,694 shares of the financial services provider’s stock after purchasing an additional 2,267 shares during the period. 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.

About Western Asset Investment Grade Income Fund

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.