Karpus Management Inc. Takes Position in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)

Karpus Management Inc. bought a new position in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 200,000 shares of the financial services provider’s stock, valued at approximately $2,438,000.

A number of other institutional investors have also recently bought and sold shares of the business. Gilman Hill Asset Management LLC grew its holdings in Western Asset Investment Grade Income Fund by 17.6% during the 1st quarter. Gilman Hill Asset Management LLC now owns 12,500 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 1,875 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its holdings in Western Asset Investment Grade Income Fund by 1.9% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 127,599 shares of the financial services provider’s stock worth $1,536,000 after buying an additional 2,338 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in Western Asset Investment Grade Income Fund by 36.1% during the 4th quarter. Tortoise Investment Management LLC now owns 27,959 shares of the financial services provider’s stock worth $340,000 after buying an additional 7,418 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Western Asset Investment Grade Income Fund by 5.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 153,363 shares of the financial services provider’s stock valued at $1,869,000 after buying an additional 7,806 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC acquired a new stake in shares of Western Asset Investment Grade Income Fund in the 4th quarter valued at $360,000. Institutional investors and hedge funds own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Trading Up 0.5 %

Shares of PAI traded up $0.06 during trading hours on Thursday, hitting $12.13. 20,446 shares of the stock traded hands, compared to its average volume of 20,393. The business has a fifty day moving average of $12.06 and a 200-day moving average of $12.02. Western Asset Investment Grade Income Fund Inc. has a 1-year low of $10.59 and a 1-year high of $12.32.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 23rd will be paid a $0.0515 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.09%.

Western Asset Investment Grade Income Fund 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.