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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 4,700 shares, a decline of 59.5% from the November 30th total of 11,600 shares. Based on an average daily volume of 15,900 shares, the days-to-cover ratio is currently 0.3 days.

Western Asset Investment Grade Income Fund Trading Down 1.2 %

NYSE:PAI traded down $0.15 during trading hours on Friday, reaching $12.47. 16,423 shares of the company were exchanged, compared to its average volume of 18,779. The business has a 50 day moving average of $12.59 and a 200 day moving average of $12.51. Western Asset Investment Grade Income Fund has a 1-year low of $11.65 and a 1-year high of $13.18.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 21st will be issued a dividend of $0.0515 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.62 annualized dividend and a dividend yield of 4.96%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. grew its stake in Western Asset Investment Grade Income Fund by 3.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 172,213 shares of the financial services provider’s stock worth $2,215,000 after purchasing an additional 5,067 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Western Asset Investment Grade Income Fund by 2.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 157,296 shares of the financial services provider’s stock worth $1,900,000 after buying an additional 3,933 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its holdings in shares of Western Asset Investment Grade Income Fund by 4.4% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 140,365 shares of the financial services provider’s stock worth $1,696,000 after buying an additional 5,915 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Western Asset Investment Grade Income Fund by 1,527.4% during the 3rd quarter. International Assets Investment Management LLC now owns 91,949 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 86,299 shares during the period. Finally, Shaker Financial Services LLC bought a new stake in shares of Western Asset Investment Grade Income Fund in the 2nd quarter valued at $806,000. Institutional investors and hedge funds own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Company Profile

Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.