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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the target of a large growth in short interest in 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. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 25,365 shares, the short-interest ratio is currently 0.2 days.

Western Asset Investment Grade Income Fund Price Performance

Western Asset Investment Grade Income Fund stock traded down $0.05 during trading hours on Friday, reaching $12.12. The company had a trading volume of 7,765 shares, compared to its average volume of 25,765. The company has a 50-day moving average price of $12.18 and a 200 day moving average price of $12.42. Western Asset Investment Grade Income Fund has a 12-month low of $11.72 and a 12-month high of $13.66.

Western Asset Investment Grade Income Fund Dividend Announcement

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

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Several hedge funds have recently made changes to their positions in the business. Sit Investment Associates Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund during the fourth quarter valued at approximately $14,335,000. 1607 Capital Partners LLC increased its stake in shares of Western Asset Investment Grade Income Fund by 9.8% during the fourth quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock valued at $8,897,000 after buying an additional 63,734 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Western Asset Investment Grade Income Fund by 13.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 223,849 shares of the financial services provider’s stock valued at $2,794,000 after buying an additional 25,947 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Western Asset Investment Grade Income Fund by 6.4% during the third quarter. Jones Financial Companies Lllp now owns 187,621 shares of the financial services provider’s stock valued at $2,387,000 after buying an additional 11,267 shares during the period. Finally, Guggenheim Capital LLC increased its stake in shares of Western Asset Investment Grade Income Fund by 54.7% during the fourth quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock valued at $2,340,000 after buying an additional 66,296 shares during the period. 18.99% of the stock is owned by hedge funds and other 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.