Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Short Interest Down 36.6% in April

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 8,500 shares, a decrease of 36.6% from the March 31st total of 13,400 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 19,100 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. 1607 Capital Partners LLC increased its position in shares of Western Asset Investment Grade Income Fund by 34.0% during the fourth quarter. 1607 Capital Partners LLC now owns 662,505 shares of the financial services provider’s stock worth $8,288,000 after acquiring an additional 168,193 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Western Asset Investment Grade Income Fund by 58.7% during the 4th quarter. Jones Financial Companies Lllp now owns 155,099 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 57,376 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Western Asset Investment Grade Income Fund in the fourth quarter worth approximately $574,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Western Asset Investment Grade Income Fund by 24.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 214,320 shares of the financial services provider’s stock valued at $2,681,000 after purchasing an additional 42,107 shares in the last quarter. Finally, StoneX Group Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund during the fourth quarter valued at approximately $249,000. 18.99% of the stock is owned by institutional investors.

Western Asset Investment Grade Income Fund Price Performance

PAI stock opened at $12.40 on Tuesday. Western Asset Investment Grade Income Fund has a 1 year low of $11.41 and a 1 year high of $13.18. The company’s 50-day moving average is $12.45 and its 200-day moving average is $12.52.

Western Asset Investment Grade Income Fund Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were paid a dividend of $0.0525 per share. This represents a yield of 4.91%. The ex-dividend date of this dividend was Monday, March 24th. This is a positive change from Western Asset Investment Grade Income Fund’s previous dividend of $0.05.

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.