Sit Investment Associates Inc. Buys New Holdings in Western Asset Investment Grade Income Fund Inc. $PAI

Sit Investment Associates Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,148,642 shares of the financial services provider’s stock, valued at approximately $14,335,000. Sit Investment Associates Inc. owned 0.12% of Western Asset Investment Grade Income Fund as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PAI. Kestra Advisory Services LLC bought a new stake in Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $32,000. International Assets Investment Management LLC acquired a new stake in shares of Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $71,000. Northwestern Mutual Wealth Management Co. boosted 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 acquiring an additional 6,708 shares during the period. Bank of America Corp DE boosted 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 acquiring an additional 2,267 shares during the period. Finally, Karpus Management Inc. bought a new position in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $113,000. Institutional investors and hedge funds own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Price Performance

PAI stock opened at $12.14 on Friday. Western Asset Investment Grade Income Fund Inc. has a 1-year low of $11.72 and a 1-year high of $13.66. The business’s 50 day simple moving average is $12.15 and its 200 day simple moving average is $12.35.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a dividend of $0.0525 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, August 24th.

Western Asset Investment Grade Income Fund 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.