Stifel Financial Corp Decreases Holdings in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)

Stifel Financial Corp decreased its holdings in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 5.0% in the third quarter, Holdings Channel reports. The fund owned 31,820 shares of the financial services provider’s stock after selling 1,678 shares during the quarter. Stifel Financial Corp’s holdings in Western Asset Investment Grade Income Fund were worth $409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in Western Asset Investment Grade Income Fund by 2.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 157,296 shares of the financial services provider’s stock valued at $1,900,000 after purchasing an additional 3,933 shares during the period. International Assets Investment Management LLC bought a new position in shares of Western Asset Investment Grade Income Fund during the 2nd quarter valued at approximately $68,000. SeaBridge Investment Advisors LLC raised its holdings in Western Asset Investment Grade Income Fund by 4.4% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 140,365 shares of the financial services provider’s stock valued at $1,696,000 after buying an additional 5,915 shares during the period. Wolverine Asset Management LLC bought a new stake in Western Asset Investment Grade Income Fund in the second quarter worth $88,000. Finally, Shaker Financial Services LLC bought a new stake in Western Asset Investment Grade Income Fund in the second quarter worth $806,000. Hedge funds and other institutional investors own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Trading Down 1.2 %

PAI stock opened at $12.47 on Friday. Western Asset Investment Grade Income Fund Inc. has a twelve month low of $11.65 and a twelve month high of $13.18. The firm’s fifty day simple moving average is $12.59 and its two-hundred day simple moving average is $12.50.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 21st will be paid a dividend of $0.0515 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.96%.

Western Asset Investment Grade Income Fund Company 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.