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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Get Rating) announced a monthly dividend on Thursday, May 19th, Wall Street Journal reports. Stockholders of record on Wednesday, August 24th will be given a dividend of 0.0465 per share by the financial services provider on Thursday, September 1st. This represents a $0.56 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Tuesday, August 23rd.

Western Asset Investment Grade Income Fund has decreased its dividend by an average of 6.8% annually over the last three years.

Shares of NYSE PAI traded down $0.05 during trading hours on Thursday, hitting $12.38. The company had a trading volume of 6,563 shares, compared to its average volume of 20,911. Western Asset Investment Grade Income Fund has a 1-year low of $12.24 and a 1-year high of $17.41. The firm’s 50 day moving average is $13.05 and its 200-day moving average is $14.34.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its holdings in Western Asset Investment Grade Income Fund by 73.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,724 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,150 shares during the last quarter. LPL Financial LLC lifted its holdings in Western Asset Investment Grade Income Fund by 43.0% during the 4th quarter. LPL Financial LLC now owns 21,422 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 6,445 shares during the last quarter. Morgan Stanley lifted its holdings in Western Asset Investment Grade Income Fund by 6.8% during the 2nd quarter. Morgan Stanley now owns 25,397 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 1,615 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Western Asset Investment Grade Income Fund by 27.8% during the 1st quarter. UBS Group AG now owns 41,810 shares of the financial services provider’s stock valued at $569,000 after purchasing an additional 9,104 shares during the last quarter. 22.65% of the stock is owned by institutional investors.

Western Asset Investment Grade Income Fund Company Profile (Get Rating)

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.

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