Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Rises By 163.4%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 3,866 shares, a growth of 163.4% from the June 15th total of 1,468 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 12,697 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in Western Asset Investment Grade Income Fund during the 1st quarter valued at $30,000. Kestra Advisory Services LLC bought a new stake in shares of Western Asset Investment Grade Income Fund in the 4th quarter worth $32,000. International Assets Investment Management LLC bought a new stake in shares of Western Asset Investment Grade Income Fund in the 4th quarter worth $71,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Western Asset Investment Grade Income Fund by 4,791.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock valued at $85,000 after buying an additional 6,708 shares during the period. Finally, Bank of America Corp DE lifted its holdings 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 buying an additional 2,267 shares during the period. Institutional investors own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Stock Performance

PAI stock opened at $12.06 on Thursday. Western Asset Investment Grade Income Fund has a 52 week low of $11.72 and a 52 week high of $13.09. The firm’s 50-day moving average is $12.11 and its two-hundred day moving average is $12.31.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a dividend of $0.0525 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, August 24th.

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.