Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Short Interest Down 20.7% in March

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 13,400 shares, a decline of 20.7% from the March 15th total of 16,900 shares. Based on an average daily trading volume, of 18,600 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Several large investors have recently bought and sold shares of PAI. 1607 Capital Partners LLC boosted its position in Western Asset Investment Grade Income Fund by 34.0% during the 4th quarter. 1607 Capital Partners LLC now owns 662,505 shares of the financial services provider’s stock worth $8,288,000 after buying an additional 168,193 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Western Asset Investment Grade Income Fund by 58.7% in the fourth quarter. Jones Financial Companies Lllp now owns 155,099 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 57,376 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Western Asset Investment Grade Income Fund in the fourth quarter valued at $574,000. Hennion & Walsh Asset Management Inc. raised its position in Western Asset Investment Grade Income Fund by 24.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 214,320 shares of the financial services provider’s stock worth $2,681,000 after purchasing an additional 42,107 shares during the last quarter. Finally, StoneX Group Inc. acquired a new position in Western Asset Investment Grade Income Fund during the 4th quarter worth about $249,000. 18.99% of the stock is currently owned by institutional investors.

Western Asset Investment Grade Income Fund Stock Up 0.2 %

Shares of PAI traded up $0.03 during trading hours on Friday, reaching $12.09. The stock had a trading volume of 24,402 shares, compared to its average volume of 17,542. Western Asset Investment Grade Income Fund has a 12 month low of $11.41 and a 12 month high of $13.18. The company’s 50-day moving average is $12.50 and its two-hundred day moving average is $12.55.

Western Asset Investment Grade Income Fund Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a $0.0525 dividend. This represents a yield of 4.91%. The ex-dividend date of this dividend was Monday, March 24th. This is a boost from Western Asset Investment Grade Income Fund’s previous dividend of $0.05.

About Western Asset Investment Grade Income Fund

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.