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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) 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 dividend 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 increased its dividend payment by an average of 2.9% per year over the last three years.

Western Asset Investment Grade Income Fund Price Performance

NYSE:PAI traded down $0.07 during mid-day trading on Monday, reaching $12.76. The company’s stock had a trading volume of 14,911 shares, compared to its average volume of 17,538. The firm’s fifty day moving average price is $12.57 and its two-hundred day moving average price 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

A hedge fund recently raised its stake in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE raised its holdings in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,694 shares of the financial services provider’s stock after buying 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 at the end of the most recent quarter. 18.99% of the stock is owned by hedge funds and other institutional investors.

About Western Asset Investment Grade Income Fund

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.