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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAIGet Rating) was the target of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 2,800 shares, a decrease of 62.7% from the May 15th total of 7,500 shares. Based on an average daily trading volume, of 23,600 shares, the days-to-cover ratio is currently 0.1 days.

PAI stock opened at $12.25 on Friday. The firm has a 50-day simple moving average of $12.71 and a two-hundred day simple moving average of $13.92. Western Asset Investment Grade Income Fund has a one year low of $12.24 and a one year high of $17.41.

The business also recently disclosed a monthly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 23rd will be issued a dividend of $0.0465 per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $0.56 annualized dividend and a dividend yield of 4.56%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its holdings in shares of Western Asset Investment Grade Income Fund by 73.1% during the first quarter. Advisor Group Holdings Inc. now owns 2,724 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,150 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of Western Asset Investment Grade Income Fund by 2.6% during the fourth quarter. Fiera Capital Corp now owns 54,499 shares of the financial services provider’s stock valued at $852,000 after acquiring an additional 1,385 shares in the last quarter. Granite Investment Partners LLC increased its holdings in shares of Western Asset Investment Grade Income Fund by 3.8% during the fourth quarter. Granite Investment Partners LLC now owns 42,403 shares of the financial services provider’s stock valued at $663,000 after acquiring an additional 1,564 shares in the last quarter. Morgan Stanley increased its holdings in Western Asset Investment Grade Income Fund by 6.8% in the 2nd quarter. Morgan Stanley now owns 25,397 shares of the financial services provider’s stock worth $397,000 after buying an additional 1,615 shares during the period. Finally, Steph & Co. acquired a new position in Western Asset Investment Grade Income Fund in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 22.65% of the company’s stock.

Western Asset Investment Grade Income Fund Company Profile (Get Rating)

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.

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