Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Short Interest Up 170.1% in February

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 18,100 shares, an increase of 170.1% from the February 13th total of 6,700 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 18,500 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of Western Asset Investment Grade Income Fund by 35.3% during the 4th quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 2,267 shares in the last quarter. StoneX Group Inc. purchased a new stake in Western Asset Investment Grade Income Fund during the fourth quarter worth $249,000. Aviance Capital Partners LLC grew its holdings in Western Asset Investment Grade Income Fund by 12.6% in the fourth quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 2,612 shares during the last quarter. Stifel Financial Corp grew its holdings in Western Asset Investment Grade Income Fund by 6.4% in the fourth quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund in the fourth quarter valued at $574,000. 18.99% of the stock is currently owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Stock Performance

NYSE PAI traded down $0.20 on Thursday, hitting $12.61. 14,580 shares of the company’s stock were exchanged, compared to its average volume of 18,645. The firm’s 50-day moving average price is $12.52 and its two-hundred day moving average price is $12.61. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.65 and a fifty-two week high of $13.18.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 24th will be paid a dividend of $0.0525 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 5.00%.

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.