Allspring Global Investments Holdings LLC, a financial services provider, has recently filed its 13F report with Securities and Exchange Commission (SEC) confirming its substantial increase in holdings of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI). As per the documents, the hedge fund increased its stakes in PAI by a staggering 163.0% during the fourth quarter of this year.
The filing reported that Allspring Global Investments Holdings LLC now owns about 29,156 shares of Western Asset Investment Grade Income Fund which constitutes almost 0.31% of total shareholding. The additional stake that the company acquired amounted to around 18,070 shares, translating to a whopping $338,000 worth of assets invested at the end of last quarter.
Western Asset Investment Grade Income Fund offers investment opportunities for income-seeking investors by providing exposure to a diversified portfolio comprising primarily investment-grade fixed-income securities. The investment provides an attractive dividend yield on regular intervals for stockholders contributing to their income streams.
Furthermore, PAI has been continuing its tradition of disbursing dividends consistently in recent years with shareholder’s receiving $0.0465 per share on April 3rd this year if they were on record as at March 24th this year. This meant a dividend yield of around 4.78%, impressive given the low-interest rates seen worldwide over the past few years.
If you are interested in keeping track of other investments and insider trades such as for Western Asset Investment Grade Income Fund Inc. (NYSE:PAI), stay up-to-date with HoldingsChannel.com for more information and quarterly filings from publicly-traded companies.
Institutional Investors Take Interest in Western Asset Investment Grade Income Fund (PAI)
In the world of finance, institutional investors are a major driving force behind the movement of various stocks. Recently, several large investors have purchased and sold shares of Western Asset Investment Grade Income Fund (PAI), a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company Limited.
SeaBridge Investment Advisors LLC saw an impressive growth in their position in PAI during the third quarter of 2023, acquiring an additional 81,805 shares and bringing their total holdings to 110,940 shares worth $1,241,000. Hennion & Walsh Asset Management Inc. also experienced growth in their position with an additional 50,014 shares acquired during the same period, while 1607 Capital Partners LLC added an extra 32,376 shares to their portfolio.
Thrivent Financial for Lutherans and Transatlantique Private Wealth LLC also acquired new positions in PAI during the third quarter with monetary values of approximately $232,000 and $148,000 respectively. Overall, institutional investors currently own 25.88% of PAI stock.
Despite these movements by institutional investors, PAI had a relatively stable opening at $11.96 on Wednesday. Its one-year low is $10.74 and its one-year high is $13.58 with a current moving average at $11.95 for the last 50 days and $11.83 for the last 200 days.
Western Asset Income Fund’s primary investment focus is investment grade debt such as government securities and bank debt in the US fixed income markets. Managed by Western Asset Management Company Limited as well as its parent company Western Asset Management Company, this investment vehicle continues to attract interest from large institutional investors seeking new opportunities in stable financial markets.
As always when it comes to investing decision making goes beyond analyzing stock trends so carrying out further research is recommended before any potential investments are made into this particular asset class or any other financial products.
