Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Drops By 62.0%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) saw a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 4,603 shares, a decrease of 62.0% from the February 12th total of 12,128 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 13,121 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 13,121 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the company’s shares are sold short.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Several institutional investors have recently bought and sold shares of PAI. Sit Investment Associates Inc. purchased a new stake in Western Asset Investment Grade Income Fund during the fourth quarter worth approximately $14,335,000. Guggenheim Capital LLC lifted its holdings 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 acquiring an additional 66,296 shares in the last quarter. 1607 Capital Partners LLC boosted its position in Western Asset Investment Grade Income Fund by 9.8% during the 4th quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock worth $8,897,000 after purchasing an additional 63,734 shares during the period. Shaker Financial Services LLC boosted its position in Western Asset Investment Grade Income Fund by 413.8% during the 3rd quarter. Shaker Financial Services LLC now owns 57,081 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 45,971 shares during the period. Finally, Wolverine Asset Management LLC increased its holdings in 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 valued at $668,000 after purchasing an additional 44,160 shares in the last quarter. 18.99% of the stock is currently owned by hedge funds and other institutional investors.

Western Asset Investment Grade Income Fund Stock Performance

Western Asset Investment Grade Income Fund stock opened at $12.21 on Wednesday. Western Asset Investment Grade Income Fund has a 12 month low of $11.41 and a 12 month high of $13.66. The stock’s 50-day moving average is $12.60 and its 200-day moving average is $12.60.

Western Asset Investment Grade Income Fund Dividend Announcement

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