Sit Investment Associates Inc. Acquires New Shares in Western Asset Investment Grade Income Fund Inc. $PAI

Sit Investment Associates Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,148,642 shares of the financial services provider’s stock, valued at approximately $14,335,000. Sit Investment Associates Inc. owned 12.08% of Western Asset Investment Grade Income Fund at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new stake in shares of Western Asset Investment Grade Income Fund in the 4th quarter valued at about $32,000. International Assets Investment Management LLC acquired a new position in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $71,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Western Asset Investment Grade Income Fund by 4,791.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 6,708 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Western Asset Investment Grade Income Fund by 35.3% during the 4th quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 2,267 shares in the last quarter. Finally, Karpus Management Inc. acquired a new stake in shares of Western Asset Investment Grade Income Fund in the 4th quarter valued at approximately $113,000. 18.99% of the stock is currently owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Price Performance

NYSE PAI opened at $12.14 on Friday. Western Asset Investment Grade Income Fund Inc. has a 12 month low of $11.72 and a 12 month high of $13.66. The stock has a 50 day moving average of $12.15 and a 200-day moving average of $12.35.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.0525 per share. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Monday, August 24th.

Western Asset Investment Grade Income Fund Company Profile

Western Asset Investment Grade Income Fund (NYSE: PAI) is a diversified, closed-end management investment company that seeks to provide high current income with a secondary objective of capital preservation. Established in 2005, the fund invests primarily in investment-grade debt securities issued by governments, government agencies, corporate issuers and securitized products. It employs both traditional fixed-income strategies and opportunistic positions to enhance its income profile.

The fund’s portfolio is broadly diversified across sectors and credit profiles, focusing on bonds rated investment-grade by major credit rating agencies.