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) was the target of a significant decrease in short interest during 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 shares of the company are sold short. Based on an average daily trading volume, of 19,100 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. SeaBridge Investment Advisors LLC lifted its holdings in shares of Western Asset Investment Grade Income Fund by 75.2% during the first quarter. SeaBridge Investment Advisors LLC now owns 254,432 shares of the financial services provider's stock worth $3,269,000 after purchasing an additional 109,201 shares during the period. Aviance Capital Partners LLC lifted its stake in shares of Western Asset Investment Grade Income Fund by 24.9% in the 1st quarter. Aviance Capital Partners LLC now owns 29,183 shares of the financial services provider's stock worth $375,000 after acquiring an additional 5,826 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Western Asset Investment Grade Income Fund by 19.3% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 255,783 shares of the financial services provider's stock worth $3,287,000 after acquiring an additional 41,463 shares during the period. Bank of America Corp DE boosted its holdings in shares of Western Asset Investment Grade Income Fund by 35.3% in the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider's stock valued at $109,000 after acquiring an additional 2,267 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Western Asset Investment Grade Income Fund by 6.4% during the fourth quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider's stock worth $424,000 after acquiring an additional 2,038 shares during the period. Institutional investors and hedge funds own 18.99% of the company's stock.

Western Asset Investment Grade Income Fund Price Performance

Shares of PAI traded up $0.01 during mid-day trading on Friday, hitting $12.36. 7,549 shares of the company's stock were exchanged, compared to its average volume of 17,374. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.41 and a fifty-two week high of $13.18. The business's 50 day moving average is $12.42 and its two-hundred day moving average is $12.51.

Western Asset Investment Grade Income Fund Increases Dividend

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

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.