Western Asset Investment Grade Income Fund (PAI) Stock Price, News & Analysis

Western Asset Investment Grade Income Fund Inc. is a closed-end diversified investment company that seeks a high level of current income through a diversified portfolio of debt securities. The fund's secondary investment objective is capital appreciation. Its common shares trade on the New York Stock Exchange under the symbol PAI.

The fund is part of the Western Asset closed-end fund family and is associated with Franklin Templeton through fund distribution announcements made by Franklin Templeton and Legg Mason Partners Fund Advisor, LLC, an indirect wholly owned subsidiary of Franklin Resources, Inc. The fund's portfolio mandate focuses primarily on fixed income securities that are rated in the Baa or BBB categories or above at the time of purchase by one or more nationally recognized statistical rating organizations, or on unrated securities considered by the investment adviser to be of comparable quality at the time of purchase.

PAI may also invest, to a lesser extent, in privately placed debt securities and certain equity securities. Its income-oriented structure is reflected in recurring board-declared distributions to common shareholders. Distribution announcements identify the amount, record date, ex-dividend date, and payable date for declared distributions, while later tax reporting characterizes distributions as ordinary income, long-term capital gain, return of capital, or other applicable categories when definitive information is available.

As a closed-end fund, PAI's common shares trade in the secondary market and their market price may fluctuate with market conditions. Closed-end fund shares can trade at a discount to net asset value, so the fund's exchange-traded share price and its portfolio-based net asset value are distinct measures.