Uhlmann Price Securities LLC increased its stake in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Free Report) by 530.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 110,826 shares of the financial services provider’s stock after acquiring an additional 93,235 shares during the quarter. Uhlmann Price Securities LLC’s holdings in Western Asset Investment Grade Income Fund were worth $1,271,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp acquired a new position in Western Asset Investment Grade Income Fund in the 1st quarter valued at $30,000. Susquehanna International Group LLP increased its stake in Western Asset Investment Grade Income Fund by 16.0% during the second quarter. Susquehanna International Group LLP now owns 12,605 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 1,734 shares during the last quarter. Bank of America Corp DE purchased a new stake in Western Asset Investment Grade Income Fund in the 2nd quarter valued at about $243,000. Waverly Advisors LLC purchased a new stake in shares of Western Asset Investment Grade Income Fund in the 2nd quarter valued at approximately $269,000. Finally, Kestra Advisory Services LLC purchased a new stake in Western Asset Investment Grade Income Fund in the third quarter valued at approximately $992,000. Institutional investors and hedge funds own 18.99% of the company’s stock.
Western Asset Investment Grade Income Fund Price Performance
PAI opened at $11.52 on Friday. Western Asset Investment Grade Income Fund Inc. has a 12-month low of $11.24 and a 12-month high of $12.95. The stock’s 50-day moving average price is $11.53 and its 200 day moving average price is $12.04.
Western Asset Investment Grade Income Fund Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.0525 per share. The ex-dividend date is Friday, November 20th. This represents a $0.63 dividend on an annualized basis and a yield of 5.5%.
About Western Asset Investment Grade Income Fund
Western Asset Investment Grade Income Fund (NYSE: PAI) is a diversified, closed-end management investment company. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing primarily in investment-grade fixed-income securities.
Its portfolio may include corporate bonds, U.S. government and agency securities, mortgage-backed securities, asset-backed securities, and other debt instruments. The fund may also invest in securities issued by entities outside the United States, providing exposure to global fixed-income markets while maintaining an emphasis on higher-quality credit.
PAI is managed by Western Asset Management Company, a global fixed-income investment manager and an affiliate of Franklin Resources.
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