Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Sees Large Growth in Short Interest

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 4,165 shares, an increase of 140.2% from the April 15th total of 1,734 shares. Based on an average trading volume of 25,365 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Hedge funds have recently modified their holdings of the stock. Sit Investment Associates Inc. purchased a new stake in Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $14,335,000. 1607 Capital Partners LLC boosted its position in Western Asset Investment Grade Income Fund by 9.8% in 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 last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Western Asset Investment Grade Income Fund by 13.1% in 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 last quarter. Jones Financial Companies Lllp boosted its position in Western Asset Investment Grade Income Fund by 6.4% in 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 last quarter. Finally, Guggenheim Capital LLC boosted its position in Western Asset Investment Grade Income Fund by 54.7% in 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 last quarter. Institutional investors and hedge funds own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Stock Performance

Shares of PAI traded down $0.05 during mid-day trading on Friday, hitting $12.12. 7,765 shares of the company traded hands, compared to its average volume of 25,765. Western Asset Investment Grade Income Fund has a 1-year low of $11.72 and a 1-year high of $13.66. The business has a 50 day moving average of $12.18 and a 200 day moving average of $12.42.

Western Asset Investment Grade Income Fund Announces Dividend

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

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.