Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Short Interest Update

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 7,071 shares, a growth of 130.4% from the November 30th total of 3,069 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 25,698 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 25,698 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of Western Asset Investment Grade Income Fund by 760.9% during the 3rd 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 period. Bank of America Corp DE raised its holdings in shares of Western Asset Investment Grade Income Fund by 35.3% in the 4th quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 2,267 shares during the period. Wolverine Asset Management LLC purchased a new position in Western Asset Investment Grade Income Fund in the third quarter valued at approximately $121,000. Focus Partners Advisor Solutions LLC bought a new position in Western Asset Investment Grade Income Fund during the second quarter valued at $143,000. Finally, Shaker Financial Services LLC bought a new position in Western Asset Investment Grade Income Fund during the second quarter valued at $145,000. 18.99% of the stock is currently owned by hedge funds and other institutional investors.

Western Asset Investment Grade Income Fund Price Performance

PAI stock opened at $12.62 on Friday. The stock’s fifty day simple moving average is $12.47 and its two-hundred day simple moving average is $12.65. Western Asset Investment Grade Income Fund has a 1-year low of $11.41 and a 1-year high of $13.66.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a dividend of $0.0525 per share. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 5.0%.

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.