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 February. As of February 28th, there was short interest totalling 18,100 shares, a growth of 170.1% from the February 13th total of 6,700 shares. Based on an average daily trading volume, of 18,500 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in 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 last quarter. StoneX Group Inc. acquired a new position in Western Asset Investment Grade Income Fund during the fourth quarter worth approximately $249,000. Aviance Capital Partners LLC increased its position in 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 buying an additional 2,612 shares during the period. Stifel Financial Corp increased its position in 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 buying an additional 2,038 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Western Asset Investment Grade Income Fund during the fourth quarter worth approximately $574,000. Hedge funds and other institutional investors own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Stock Performance

Shares of PAI traded down $0.04 during midday trading on Friday, hitting $12.57. The company had a trading volume of 6,833 shares, compared to its average volume of 18,433. The company’s 50-day simple moving average is $12.53 and its 200-day simple moving average is $12.61. Western Asset Investment Grade Income Fund has a 1 year low of $11.65 and a 1 year high of $13.18.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 24th will be paid a dividend of $0.0525 per share. This represents a $0.63 annualized dividend and a yield of 5.01%. The ex-dividend date is Monday, March 24th.

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.