Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Increases By 163.4%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 3,866 shares, a growth of 163.4% from the June 15th total of 1,468 shares. Based on an average trading volume of 12,697 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Western Asset Investment Grade Income Fund Price Performance

Shares of PAI traded down $0.03 during trading hours on Wednesday, reaching $12.06. 22,391 shares of the company’s stock traded hands, compared to its average volume of 15,506. Western Asset Investment Grade Income Fund has a twelve month low of $11.72 and a twelve month high of $13.09. The business’s fifty day simple moving average is $12.12 and its two-hundred day simple moving average is $12.31.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.0525 dividend. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Western Asset Investment Grade Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PAI. Sit Investment Associates Inc. bought a new position in Western Asset Investment Grade Income Fund during the 4th quarter valued at $14,335,000. Guggenheim Capital LLC increased its position in shares of Western Asset Investment Grade Income Fund by 54.7% during the 4th quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock valued at $2,340,000 after purchasing an additional 66,296 shares during the period. 1607 Capital Partners LLC raised its stake in shares of Western Asset Investment Grade Income Fund by 9.8% in the 4th quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock worth $8,897,000 after buying an additional 63,734 shares in the last quarter. Wolverine Asset Management LLC raised its stake in shares of Western Asset Investment Grade Income Fund by 469.6% in the 4th quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock worth $668,000 after buying an additional 44,160 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Western Asset Investment Grade Income Fund by 44.0% in the fourth quarter. Fiera Capital Corp now owns 133,223 shares of the financial services provider’s stock valued at $1,663,000 after buying an additional 40,732 shares during the period. 18.99% of the stock is currently owned by institutional investors.

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.