Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Sees Large Drop in Short Interest

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 8,500 shares, a decrease of 36.6% from the March 31st total of 13,400 shares. Approximately 0.1% of the company's stock are sold short. Based on an average trading volume of 19,100 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Western Asset Investment Grade Income Fund

A number of hedge funds have recently added to or reduced their stakes in PAI. 1607 Capital Partners LLC lifted its stake in Western Asset Investment Grade Income Fund by 34.0% in the fourth quarter. 1607 Capital Partners LLC now owns 662,505 shares of the financial services provider's stock worth $8,288,000 after acquiring an additional 168,193 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Western Asset Investment Grade Income Fund by 58.7% in the 4th quarter. Jones Financial Companies Lllp now owns 155,099 shares of the financial services provider's stock valued at $1,940,000 after buying an additional 57,376 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund in the 4th quarter worth approximately $574,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of 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 acquiring an additional 42,107 shares in the last quarter. Finally, StoneX Group Inc. purchased a new stake in Western Asset Investment Grade Income Fund during the fourth quarter valued at approximately $249,000. 18.99% of the stock is owned by hedge funds and other institutional investors.

Western Asset Investment Grade Income Fund Stock Down 0.3 %

NYSE:PAI traded down $0.04 during mid-day trading on Thursday, reaching $12.35. The company's stock had a trading volume of 49,160 shares, compared to its average volume of 17,369. Western Asset Investment Grade Income Fund has a 1 year low of $11.41 and a 1 year high of $13.18. The stock has a fifty day moving average of $12.44 and a 200-day moving average of $12.52.

Western Asset Investment Grade Income Fund Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were paid a $0.0525 dividend. The ex-dividend date was Monday, March 24th. This is a positive change from Western Asset Investment Grade Income Fund's previous dividend of $0.05. This represents a yield of 4.91%.

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.