Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Drops By 37.2%

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 5,900 shares, a drop of 37.2% from the September 15th total of 9,400 shares. Based on an average trading volume of 18,500 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Western Asset Investment Grade Income Fund during the second quarter worth $68,000. Wolverine Asset Management LLC purchased a new position in Western Asset Investment Grade Income Fund in the 2nd quarter worth approximately $88,000. Gilman Hill Asset Management LLC boosted its holdings 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 worth $152,000 after purchasing an additional 1,875 shares during the last quarter. Tortoise Investment Management LLC grew its position in shares of Western Asset Investment Grade Income Fund by 47.9% in the fourth quarter. Tortoise Investment Management LLC now owns 30,389 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 9,848 shares in the last quarter. Finally, Shaker Financial Services LLC acquired a new stake in shares of Western Asset Investment Grade Income Fund in the second quarter valued at approximately $806,000. 18.99% of the stock is currently owned by hedge funds and other institutional investors.

Western Asset Investment Grade Income Fund Stock Performance

NYSE PAI traded up $0.08 during trading hours on Monday, reaching $13.11. The company’s stock had a trading volume of 9,440 shares, compared to its average volume of 20,100. The company’s 50-day moving average is $12.66 and its two-hundred day moving average is $12.27. Western Asset Investment Grade Income Fund has a 1-year low of $10.59 and a 1-year high of $13.12.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders 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 annualized dividend and a dividend yield of 4.71%.

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.