Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Short Interest Update

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 6,516 shares, a growth of 41.6% from the February 26th total of 4,603 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 17,850 shares, the days-to-cover ratio is currently 0.4 days.

Western Asset Investment Grade Income Fund Trading Down 0.7%

Shares of Western Asset Investment Grade Income Fund stock traded down $0.09 during trading on Friday, reaching $11.92. The company’s stock had a trading volume of 16,191 shares, compared to its average volume of 14,603. Western Asset Investment Grade Income Fund has a 52 week low of $11.41 and a 52 week high of $13.66. The business’s 50-day moving average price is $12.49 and its 200-day moving average price is $12.55.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.0525 per share. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a yield of 5.3%.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new stake in Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $32,000. CWM LLC lifted its stake in shares of Western Asset Investment Grade Income Fund by 760.9% in the 3rd quarter. CWM LLC now owns 3,960 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 3,500 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Western Asset Investment Grade Income Fund during the 4th quarter valued at $71,000. Northwestern Mutual Wealth Management Co. increased its holdings in Western Asset Investment Grade Income Fund by 4,791.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 6,708 shares in the last quarter. Finally, Bank of America Corp DE raised 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 valued at $109,000 after purchasing an additional 2,267 shares during the last quarter. 18.99% of the stock is currently owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Company Profile

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.