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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PAI. International Assets Investment Management LLC purchased a new position in Western Asset Investment Grade Income Fund in the second quarter worth about $68,000. Wolverine Asset Management LLC bought a new stake in shares of Western Asset Investment Grade Income Fund in the 2nd quarter valued at approximately $88,000. Shaker Financial Services LLC purchased a new position in shares of Western Asset Investment Grade Income Fund in the 2nd quarter worth approximately $806,000. SeaBridge Investment Advisors LLC increased its position in shares of Western Asset Investment Grade Income Fund by 4.4% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 140,365 shares of the financial services provider’s stock valued at $1,696,000 after purchasing an additional 5,915 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Western Asset Investment Grade Income Fund by 2.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 157,296 shares of the financial services provider’s stock valued at $1,900,000 after buying an additional 3,933 shares during the period. 18.99% of the stock is owned by hedge funds and other institutional investors.

Western Asset Investment Grade Income Fund Price Performance

Shares of NYSE:PAI traded down $0.15 during mid-day trading on Friday, reaching $12.47. The stock had a trading volume of 16,423 shares, compared to its average volume of 18,779. The business’s 50 day moving average price is $12.59 and its 200 day moving average price is $12.51. Western Asset Investment Grade Income Fund has a 1 year low of $11.65 and a 1 year high of $13.18.

Western Asset Investment Grade Income Fund Announces Dividend

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

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.