Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Announces Dividend Increase – $0.05 Per Share

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) declared a dividend on Monday, March 24th, investing.com reports. Stockholders of record on Tuesday, March 25th will be given a dividend of 0.0525 per share by the financial services provider on Tuesday, April 1st. This represents a dividend yield of 4.91%. The ex-dividend date of this dividend is Monday, March 24th. This is a 10.5% increase from Western Asset Investment Grade Income Fund’s previous dividend of $0.05.

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

Western Asset Investment Grade Income Fund Trading Down 0.5 %

Western Asset Investment Grade Income Fund stock traded down $0.07 during midday trading on Monday, hitting $12.76. The stock had a trading volume of 14,911 shares, compared to its average volume of 17,538. Western Asset Investment Grade Income Fund has a 52-week low of $11.65 and a 52-week high of $13.18. The firm’s fifty day moving average is $12.57 and its two-hundred day moving average is $12.62.

Institutional Trading of Western Asset Investment Grade Income Fund

An institutional investor recently raised its position in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE increased its position in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,694 shares of the financial services provider’s stock after buying 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.

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.