Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Drops By 65.3%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 6,700 shares, a drop of 65.3% from the January 31st total of 19,300 shares. Based on an average daily volume of 17,100 shares, the days-to-cover ratio is presently 0.4 days.

Western Asset Investment Grade Income Fund Trading Up 0.6 %

Shares of NYSE PAI traded up $0.08 during mid-day trading on Friday, reaching $12.83. 23,215 shares of the company’s stock were exchanged, compared to its average volume of 18,541. The business has a fifty day simple moving average of $12.51 and a 200 day simple moving average of $12.61. Western Asset Investment Grade Income Fund has a twelve month low of $11.65 and a twelve month high of $13.18.

Western Asset Investment Grade Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 24th will be given a dividend of $0.0525 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds have recently modified their holdings of the business. Stifel Financial Corp raised its position in shares of Western Asset Investment Grade Income Fund by 6.4% during the fourth quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 2,038 shares during the period. Bank of America Corp DE raised its position in shares of Western Asset Investment Grade Income Fund by 35.3% during the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 2,267 shares during the period. Aviance Capital Partners LLC raised its position in shares of Western Asset Investment Grade Income Fund by 12.6% during the fourth quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 2,612 shares during the period. SeaBridge Investment Advisors LLC grew its holdings in shares of Western Asset Investment Grade Income Fund by 1.9% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 145,231 shares of the financial services provider’s stock worth $1,817,000 after buying an additional 2,663 shares in the last quarter. Finally, StoneX Group Inc. bought a new position in shares of Western Asset Investment Grade Income Fund during the fourth quarter worth about $249,000. Institutional investors and hedge funds own 18.99% of the company’s stock.

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.