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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the target of a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 1,228 shares, a decline of 75.9% from the October 15th total of 5,093 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 28,423 shares, the days-to-cover ratio is presently 0.0 days.

Western Asset Investment Grade Income Fund Price Performance

Shares of PAI stock opened at $11.55 on Thursday. Western Asset Investment Grade Income Fund has a 52-week low of $11.24 and a 52-week high of $12.95. The business has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $12.02.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be issued a $0.0525 dividend. This represents a $0.63 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, November 20th.

Institutional Trading of Western Asset Investment Grade Income Fund

A number of hedge funds have recently bought and sold shares of PAI. Susquehanna International Group LLP lifted its position in Western Asset Investment Grade Income Fund by 16.0% in the second quarter. Susquehanna International Group LLP now owns 12,605 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,734 shares during the last quarter. Fifth Third Bancorp acquired a new position in Western Asset Investment Grade Income Fund during the 1st quarter worth approximately $30,000. Focus Advisor Solutions LLC purchased a new position in Western Asset Investment Grade Income Fund in the third quarter valued at $126,000. Bank of America Corp DE acquired a new position in shares of Western Asset Investment Grade Income Fund during the 2nd quarter worth about $243,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Western Asset Investment Grade Income Fund by 147.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 30,326 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 18,081 shares in the last quarter. Institutional investors and hedge funds own 18.99% of the company’s stock.

About Western Asset Investment Grade Income Fund

Western Asset Investment Grade Income Fund (NYSE: PAI) is a diversified, closed-end management investment company. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing primarily in investment-grade fixed-income securities. Its portfolio may include corporate bonds, U.S. government and agency securities, mortgage-backed securities, asset-backed securities, and other debt instruments. The fund may also invest in securities issued by entities outside the United States, providing exposure to global fixed-income markets while maintaining an emphasis on higher-quality credit.