Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) announced a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Thursday, May 22nd will be given a dividend of 0.0525 per share by the financial services provider on Monday, June 2nd. This represents a $0.63 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change 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% per year over the last three years.
Western Asset Investment Grade Income Fund Trading Up 0.3 %
Shares of NYSE:PAI traded up $0.04 during midday trading on Monday, hitting $12.74. 12,487 shares of the company's stock were exchanged, compared to its average volume of 17,100. The stock has a 50 day moving average price of $12.48 and a 200-day moving average price of $12.60. Western Asset Investment Grade Income Fund has a 12 month low of $11.65 and a 12 month high of $13.18.
Institutional Investors Weigh In On 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 boosted its position in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) by 35.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent SEC filing. 18.99% of the stock is owned by hedge funds and other institutional investors.
Western Asset Investment Grade Income Fund Company Profile
(
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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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