Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Increases By 19.9%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 12,128 shares, a growth of 19.9% from the January 29th total of 10,116 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 13,476 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 13,476 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.1% of the company’s stock are short sold.

Institutional Trading of Western Asset Investment Grade Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Aviance Capital Partners LLC raised its stake in Western Asset Investment Grade Income Fund by 3.9% during the fourth quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock valued at $475,000 after buying an additional 1,431 shares during the last quarter. Bank of America Corp DE increased 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Western Asset Investment Grade Income Fund in the 4th quarter worth about $32,000. CWM LLC boosted its stake in Western Asset Investment Grade Income Fund by 760.9% in the 3rd 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 in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Western Asset Investment Grade Income Fund during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Stock Down 0.6%

Shares of Western Asset Investment Grade Income Fund stock traded down $0.08 during trading on Thursday, hitting $12.40. The company’s stock had a trading volume of 7,924 shares, compared to its average volume of 13,162. Western Asset Investment Grade Income Fund has a 52 week low of $11.41 and a 52 week high of $13.66. The company has a fifty day simple moving average of $12.62 and a two-hundred day simple moving average of $12.61.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.0525 per share. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Thursday, May 21st.

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.