SeaBridge Investment Advisors LLC Buys 109,201 Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)

SeaBridge Investment Advisors LLC lifted its stake in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 75.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,432 shares of the financial services provider’s stock after purchasing an additional 109,201 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Western Asset Investment Grade Income Fund were worth $3,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. 1607 Capital Partners LLC raised its stake in shares of Western Asset Investment Grade Income Fund by 34.0% during the 4th quarter. 1607 Capital Partners LLC now owns 662,505 shares of the financial services provider’s stock worth $8,288,000 after purchasing an additional 168,193 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Western Asset Investment Grade Income Fund by 19.3% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 255,783 shares of the financial services provider’s stock worth $3,287,000 after acquiring an additional 41,463 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $574,000. Stifel Financial Corp increased its holdings in shares of Western Asset Investment Grade Income Fund by 6.4% during the 4th quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 2,038 shares during the last quarter. Finally, Aviance Capital Partners LLC increased its holdings in shares of Western Asset Investment Grade Income Fund by 24.9% during the 1st quarter. Aviance Capital Partners LLC now owns 29,183 shares of the financial services provider’s stock worth $375,000 after acquiring an additional 5,826 shares during the last quarter. Institutional investors own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Price Performance

PAI stock opened at $12.74 on Wednesday. Western Asset Investment Grade Income Fund Inc. has a 1-year low of $11.41 and a 1-year high of $13.66. The business’s 50 day simple moving average is $12.55 and its 200 day simple moving average is $12.49.

Western Asset Investment Grade Income Fund Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 25th will be issued a dividend of $0.0525 per share. This represents a dividend yield of 4.96%. The ex-dividend date of this dividend is Thursday, July 24th.

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.