Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Increases By 112.3%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 8,207 shares, a growth of 112.3% from the June 30th total of 3,866 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 11,727 shares, the short-interest ratio is currently 0.7 days.

Western Asset Investment Grade Income Fund Stock Up 0.3%

Shares of NYSE:PAI traded up $0.04 during midday trading on Thursday, reaching $11.89. The company’s stock had a trading volume of 12,408 shares, compared to its average volume of 11,859. The stock has a fifty day moving average of $12.08 and a 200 day moving average of $12.27. Western Asset Investment Grade Income Fund has a twelve month low of $11.72 and a twelve month high of $13.09.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.0525 dividend. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of institutional investors have recently modified their holdings of PAI. Fifth Third Bancorp acquired a new position in shares of Western Asset Investment Grade Income Fund in the 1st quarter valued at about $30,000. Sit Investment Associates Inc. acquired a new stake in Western Asset Investment Grade Income Fund during the fourth quarter worth about $14,335,000. 1607 Capital Partners LLC grew its holdings in 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 worth $8,897,000 after acquiring an additional 63,734 shares during the period. Guggenheim Capital LLC grew its holdings in 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 worth $2,340,000 after acquiring an additional 66,296 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Western Asset Investment Grade Income Fund during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 18.99% of the company’s stock.

About Western Asset Investment Grade Income Fund

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.