Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Drops By 20.7%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 13,400 shares, a decrease of 20.7% from the March 15th total of 16,900 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 18,600 shares, the days-to-cover ratio is presently 0.7 days.

Western Asset Investment Grade Income Fund Price Performance

Shares of PAI opened at $12.09 on Friday. The business has a 50-day moving average of $12.50 and a 200 day moving average of $12.55. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.41 and a fifty-two week high of $13.18.

Western Asset Investment Grade Income Fund Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a $0.0525 dividend. The ex-dividend date was Monday, March 24th. This is an increase from Western Asset Investment Grade Income Fund’s previous dividend of $0.05. This represents a yield of 4.91%.

Institutional Investors 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 business. Bank of America Corp DE grew its position in shares of Western Asset Investment Grade Income Fund by 35.3% in 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 purchasing an additional 2,267 shares in the last quarter. StoneX Group Inc. purchased a new position in Western Asset Investment Grade Income Fund during the 4th quarter valued at about $249,000. Aviance Capital Partners LLC grew its holdings in Western Asset Investment Grade Income Fund by 12.6% during the 4th quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider’s stock valued at $292,000 after buying an additional 2,612 shares in the last quarter. Stifel Financial Corp increased its position in shares of Western Asset Investment Grade Income Fund by 6.4% during the fourth quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider’s stock valued at $424,000 after buying an additional 2,038 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Western Asset Investment Grade Income Fund in the fourth quarter worth about $574,000. Institutional investors own 18.99% of the company’s stock.

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.