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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 18,100 shares, a growth of 170.1% from the February 13th total of 6,700 shares. Based on an average daily volume of 18,500 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.2% of the company’s shares are sold short.

Western Asset Investment Grade Income Fund Stock Down 0.3 %

Shares of NYSE:PAI traded down $0.04 during midday trading on Friday, reaching $12.57. 6,833 shares of the company’s stock were exchanged, compared to its average volume of 18,433. The firm’s 50 day simple moving average is $12.53 and its two-hundred day simple moving average is $12.61. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.65 and a fifty-two week high of $13.18.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 24th will be issued a dividend of $0.0525 per share. This represents a $0.63 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Monday, March 24th.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 1607 Capital Partners LLC boosted its holdings in Western Asset Investment Grade Income Fund by 34.0% during the 4th quarter. 1607 Capital Partners LLC now owns 662,505 shares of the financial services provider’s stock valued at $8,288,000 after acquiring an additional 168,193 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Western Asset Investment Grade Income Fund by 24.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 214,320 shares of the financial services provider’s stock valued at $2,681,000 after acquiring an additional 42,107 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Western Asset Investment Grade Income Fund by 58.7% in the 4th quarter. Jones Financial Companies Lllp now owns 155,099 shares of the financial services provider’s stock valued at $1,940,000 after buying an additional 57,376 shares during the period. SeaBridge Investment Advisors LLC boosted its stake in shares of Western Asset Investment Grade Income Fund by 1.9% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 145,231 shares of the financial services provider’s stock valued at $1,817,000 after buying an additional 2,663 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund in the 4th quarter valued at about $574,000. 18.99% of the stock is currently owned by hedge funds and other institutional investors.

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.