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 decrease in short interest during the month of February. As of February 15th, there was short interest totalling 6,700 shares, a decrease of 65.3% from the January 31st total of 19,300 shares. Based on an average daily volume of 17,100 shares, the short-interest ratio is currently 0.4 days.

Western Asset Investment Grade Income Fund Trading Up 0.6 %

Shares of PAI traded up $0.08 during trading hours on Friday, hitting $12.83. 23,215 shares of the stock traded hands, compared to its average volume of 18,541. Western Asset Investment Grade Income Fund has a 1-year low of $11.65 and a 1-year high of $13.18. The business has a fifty day moving average of $12.51 and a 200-day moving average of $12.61.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 4.91%. The ex-dividend date is Monday, March 24th.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Several large investors have recently made changes to their positions in the company. Stifel Financial Corp lifted its stake 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 valued at $424,000 after acquiring an additional 2,038 shares during the period. Bank of America Corp DE lifted its stake 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 valued at $109,000 after acquiring an additional 2,267 shares during the period. Aviance Capital Partners LLC lifted its stake 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 valued at $292,000 after acquiring an additional 2,612 shares during the period. SeaBridge Investment Advisors LLC lifted its stake 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 valued at $1,817,000 after acquiring an additional 2,663 shares during the period. Finally, StoneX Group Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund during the fourth quarter valued at $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.