Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Declines By 59.5%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 4,700 shares, a decrease of 59.5% from the November 30th total of 11,600 shares. Based on an average daily volume of 15,900 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PAI. International Assets Investment Management LLC bought a new position in shares of Western Asset Investment Grade Income Fund in the second quarter worth approximately $68,000. Wolverine Asset Management LLC bought a new stake in Western Asset Investment Grade Income Fund during the second quarter valued at about $88,000. Shaker Financial Services LLC purchased a new position in shares of Western Asset Investment Grade Income Fund in the second quarter valued at about $806,000. SeaBridge Investment Advisors LLC boosted its stake in shares of Western Asset Investment Grade Income Fund by 4.4% in the second quarter. SeaBridge Investment Advisors LLC now owns 140,365 shares of the financial services provider’s stock worth $1,696,000 after acquiring an additional 5,915 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Western Asset Investment Grade Income Fund by 2.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 157,296 shares of the financial services provider’s stock worth $1,900,000 after purchasing an additional 3,933 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 Stock Down 1.2 %

NYSE:PAI traded down $0.15 on Friday, reaching $12.47. 16,423 shares of the stock traded hands, compared to its average volume of 18,779. Western Asset Investment Grade Income Fund has a 12 month low of $11.65 and a 12 month high of $13.18. The company’s fifty day simple moving average is $12.59 and its 200 day simple moving average is $12.51.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 21st will be given a dividend of $0.0515 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Friday, February 21st.

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.