Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) announced a dividend on Monday, March 24th, investing.com reports. Investors 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 yield of 4.91%. The ex-dividend date 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 raised its dividend by an average of 2.9% annually over the last three years.
Western Asset Investment Grade Income Fund Price Performance
Shares of NYSE PAI traded down $0.05 on Friday, reaching $12.80. 8,824 shares of the company's stock traded hands, compared to its average volume of 17,377. The business's 50 day simple moving average is $12.63 and its two-hundred day simple moving average is $12.62. Western Asset Investment Grade Income Fund has a 12 month low of $11.65 and a 12 month high of $13.18.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE lifted its position in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) by 35.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,694 shares of the financial services provider's stock after acquiring an additional 2,267 shares during the period. Bank of America Corp DE owned approximately 0.09% of Western Asset Investment Grade Income Fund worth $109,000 as of its most recent filing with the Securities & Exchange Commission. 18.99% of the stock is owned by hedge funds and other institutional investors.
About Western Asset Investment Grade Income Fund
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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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