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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) announced a monthly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders 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 yield of 4.95%. The ex-dividend date is Thursday, May 22nd.

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 Price Performance

Shares of Western Asset Investment Grade Income Fund stock traded down $0.01 during trading on Tuesday, reaching $12.73. 61,545 shares of the company's stock were exchanged, compared to its average volume of 18,332. Western Asset Investment Grade Income Fund has a 1-year low of $11.65 and a 1-year high of $13.18. The firm's 50-day moving average price is $12.48 and its 200 day moving average price is $12.60.

Institutional Inflows and Outflows

A hedge fund recently raised its stake 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% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission. 18.99% of the stock is currently owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Company Profile

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.