Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Rises By 140.2%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 4,165 shares, a growth of 140.2% from the April 15th total of 1,734 shares. Based on an average daily volume of 25,365 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Several hedge funds have recently made changes to their positions in the business. Aviance Capital Partners LLC boosted its holdings in shares of Western Asset Investment Grade Income Fund by 3.9% during the fourth quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 1,431 shares during the last quarter. Bank of America Corp DE boosted its holdings 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 acquiring an additional 2,267 shares during the last quarter. Fifth Third Bancorp acquired a new position in Western Asset Investment Grade Income Fund in the first quarter valued at $30,000. Kestra Advisory Services LLC acquired a new position in Western Asset Investment Grade Income Fund in the fourth quarter valued at $32,000. Finally, CWM LLC boosted its holdings in Western Asset Investment Grade Income Fund by 760.9% in the third 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. Institutional investors and hedge funds own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Price Performance

Shares of PAI stock traded down $0.05 during mid-day trading on Friday, hitting $12.12. 7,765 shares of the company’s stock were exchanged, compared to its average volume of 25,765. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.72 and a fifty-two week high of $13.66. The stock has a 50-day simple moving average of $12.18 and a two-hundred day simple moving average of $12.42.

Western Asset Investment Grade Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.0525 per share. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 5.2%.

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.