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

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

Western Asset Investment Grade Income Fund Stock Performance

NYSE:PAI traded up $0.01 during trading hours on Tuesday, reaching $11.92. The company had a trading volume of 4,973 shares, compared to its average volume of 15,355. The stock has a 50-day moving average of $12.09 and a two-hundred day moving average of $12.28. Western Asset Investment Grade Income Fund has a one year low of $11.72 and a one year high of $13.09.

Western Asset Investment Grade Income Fund Dividend Announcement

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

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Institutional investors have recently modified their holdings of the stock. Aviance Capital Partners LLC raised its position in Western Asset Investment Grade Income Fund by 3.9% in the 4th quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 1,431 shares during the last quarter. Bank of America Corp DE increased its stake 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 valued at $109,000 after acquiring an additional 2,267 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Western Asset Investment Grade Income Fund in the 1st quarter valued at $30,000. Kestra Advisory Services LLC bought a new stake in shares of Western Asset Investment Grade Income Fund in the fourth quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $71,000. 18.99% of the stock is owned by 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.