Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Sees Significant Increase in Short Interest

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 10,116 shares, an increase of 141.1% from the January 15th total of 4,195 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 9,439 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 9,439 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAI. Bank of America Corp DE increased its position in Western Asset Investment Grade Income Fund by 35.3% in the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after buying an additional 2,267 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Western Asset Investment Grade Income Fund in the 2nd quarter worth about $143,000. Aviance Capital Partners LLC lifted its position in Western Asset Investment Grade Income Fund by 18.4% in the 2nd quarter. Aviance Capital Partners LLC now owns 34,551 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 5,368 shares during the last quarter. Shaker Financial Services LLC acquired a new position in Western Asset Investment Grade Income Fund during the 2nd quarter valued at about $145,000. Finally, Baird Financial Group Inc. grew its position in Western Asset Investment Grade Income Fund by 85.4% in the 2nd quarter. Baird Financial Group Inc. now owns 31,782 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 14,644 shares during the last quarter. Institutional investors and hedge funds own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Trading Up 0.1%

Shares of Western Asset Investment Grade Income Fund stock traded up $0.01 during trading hours on Thursday, reaching $12.77. The company’s stock had a trading volume of 9,036 shares, compared to its average volume of 12,025. The company’s 50 day simple moving average is $12.54 and its 200 day simple moving average is $12.62. Western Asset Investment Grade Income Fund has a one year low of $11.41 and a one year high of $13.66.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be paid a $0.0525 dividend. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, February 20th.

About Western Asset Investment Grade Income Fund

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.