Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Grows By 141.1%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 10,116 shares, a growth of 141.1% from the January 15th total of 4,195 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 9,439 shares, the days-to-cover ratio is presently 1.1 days. Based on an average trading volume of 9,439 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.1% of the company’s stock are sold short.

Western Asset Investment Grade Income Fund Stock Up 0.3%

Shares of Western Asset Investment Grade Income Fund stock traded up $0.04 during midday trading on Friday, reaching $12.81. 6,601 shares of the company’s stock traded hands, compared to its average volume of 11,127. Western Asset Investment Grade Income Fund has a 52 week low of $11.41 and a 52 week high of $13.66. The company’s 50 day simple moving average is $12.55 and its 200 day simple moving average is $12.62.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.0525 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%.

Institutional Trading of Western Asset Investment Grade Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC acquired a new stake in Western Asset Investment Grade Income Fund during the fourth quarter worth about $32,000. CWM LLC lifted its stake in Western Asset Investment Grade Income Fund by 760.9% during the third quarter. CWM LLC now owns 3,960 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 3,500 shares during the period. International Assets Investment Management LLC acquired a new stake in Western Asset Investment Grade Income Fund during the fourth quarter valued at approximately $71,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Western Asset Investment Grade Income Fund by 4,791.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock worth $85,000 after buying an additional 6,708 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Western Asset Investment Grade Income Fund by 35.3% during the fourth 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 period. Institutional investors and hedge funds own 18.99% of the company’s stock.

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.