Short Interest in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Expands By 163.4%

Key Points

• Short interest in PAI surged 163.4% in June, rising to 3,866 shares from 1,468 shares as of June 15. Even so, the short-interest ratio remains low at 0.3 days, with about 0.0% of shares sold short.
• Institutional ownership remains notable, with several firms adding or initiating positions, including Aviance Capital Partners, Bank of America, and others. Institutions currently hold 18.99% of the fund’s shares.
• The fund announced a monthly dividend of $0.0525 per share, payable on August 31 to shareholders of record on August 24. That works out to an annualized yield of 5.2%.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 3,866 shares, a growth of 163.4% from the June 15th total of 1,468 shares. Based on an average trading volume of 12,697 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aviance Capital Partners LLC raised its stake in shares of Western Asset Investment Grade Income Fund by 3.9% during the fourth quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider's stock worth $475,000 after acquiring an additional 1,431 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Western Asset Investment Grade Income Fund by 35.3% in the 4th quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 2,267 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of Western Asset Investment Grade Income Fund during the 1st quarter valued at $30,000. Kestra Advisory Services LLC bought a new position in shares of Western Asset Investment Grade Income Fund during the 4th quarter valued at $32,000. Finally, International Assets Investment Management LLC purchased a new position in Western Asset Investment Grade Income Fund in the 4th quarter worth $71,000. 18.99% of the stock is currently owned by institutional investors.

Western Asset Investment Grade Income Fund Stock Down 0.2%

Shares of PAI stock opened at $12.07 on Tuesday. The business has a 50-day moving average price of $12.12 and a two-hundred day moving average price of $12.32. Western Asset Investment Grade Income Fund has a 12-month low of $11.72 and a 12-month high of $13.20.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.0525 dividend. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 5.2%.

About Western Asset Investment Grade Income Fund

Western Asset Investment Grade Income Fund NYSE: PAI is a diversified, closed-end management investment company that seeks to provide high current income with a secondary objective of capital preservation. Established in 2005, the fund invests primarily in investment-grade debt securities issued by governments, government agencies, corporate issuers and securitized products. It employs both traditional fixed-income strategies and opportunistic positions to enhance its income profile.

The fund's portfolio is broadly diversified across sectors and credit profiles, focusing on bonds rated investment-grade by major credit rating agencies.

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