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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 9,400 shares, an increase of 176.5% from the August 31st total of 3,400 shares. Based on an average daily trading volume, of 16,900 shares, the short-interest ratio is currently 0.6 days.

Western Asset Investment Grade Income Fund Stock Down 0.6 %

Shares of PAI stock traded down $0.08 during midday trading on Wednesday, reaching $12.76. 17,729 shares of the company were exchanged, compared to its average volume of 19,825. The company’s 50 day moving average price is $12.53 and its two-hundred day moving average price is $12.19. Western Asset Investment Grade Income Fund has a 12 month low of $10.59 and a 12 month high of $12.97.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 21st will be given a $0.0515 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 4.84%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAI. 1607 Capital Partners LLC lifted its holdings in shares of Western Asset Investment Grade Income Fund by 19.3% in the fourth quarter. 1607 Capital Partners LLC now owns 881,739 shares of the financial services provider’s stock valued at $10,616,000 after buying an additional 142,853 shares during the period. Tortoise Investment Management LLC lifted its holdings in Western Asset Investment Grade Income Fund by 47.9% in the 4th quarter. Tortoise Investment Management LLC now owns 30,389 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 9,848 shares during the last quarter. Gilman Hill Asset Management LLC boosted its position in shares of Western Asset Investment Grade Income Fund by 17.6% during the 1st quarter. Gilman Hill Asset Management LLC now owns 12,500 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 1,875 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Western Asset Investment Grade Income Fund by 5.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 153,363 shares of the financial services provider’s stock valued at $1,869,000 after purchasing an additional 7,806 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC grew its stake in shares of Western Asset Investment Grade Income Fund by 5.4% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 134,450 shares of the financial services provider’s stock worth $1,639,000 after purchasing an additional 6,851 shares during the last quarter. 18.99% of the stock is owned by institutional investors.

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.