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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 4,165 shares, an increase of 140.2% from the April 15th total of 1,734 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 25,365 shares, the short-interest ratio is currently 0.2 days.

Western Asset Investment Grade Income Fund Price Performance

NYSE PAI traded down $0.05 during trading hours on Friday, reaching $12.12. The stock had a trading volume of 7,765 shares, compared to its average volume of 25,765. The stock has a fifty day moving average of $12.18 and a 200 day moving average of $12.42. Western Asset Investment Grade Income Fund has a 52-week low of $11.72 and a 52-week high of $13.66.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a $0.0525 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 5.2%.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Large investors have recently bought and sold shares of the company. Wolverine Asset Management LLC boosted its position in Western Asset Investment Grade Income Fund by 469.6% in the 4th quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 44,160 shares in the last quarter. Aviance Capital Partners LLC boosted its position in Western Asset Investment Grade Income Fund by 3.9% in the 4th quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 1,431 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Western Asset Investment Grade Income Fund in the 1st quarter worth approximately $30,000. Guggenheim Capital LLC boosted its position in Western Asset Investment Grade Income Fund by 54.7% in the 4th quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock worth $2,340,000 after purchasing an additional 66,296 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Western Asset Investment Grade Income Fund by 35.3% in the 4th quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 2,267 shares in the last quarter. Hedge funds and other institutional investors own 18.99% of the company’s stock.

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.