Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Short Interest Update

Key Points

• Short interest plunged about 62% in February to 4,603 shares, leaving 0.0% of the company's shares sold short and a days-to-cover ratio of 0.4.
• Significant institutional activity: Sit Investment Associates opened a new position worth about $14.34M, while firms such as 1607 Capital and Guggenheim materially increased stakes, and institutional investors now own roughly 18.99% of the fund.
• The fund declared a monthly dividend of $0.0525 per share (ex-dividend date May 21, payable May 29), implying an annualized yield of about 5.2%.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 4,603 shares, a decline of 62.0% from the February 12th total of 12,128 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 13,121 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 13,121 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the company's shares are sold short.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of large investors have recently bought and sold shares of the stock. Sit Investment Associates Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund in the 4th quarter valued at $14,335,000. 1607 Capital Partners LLC increased its holdings in shares of Western Asset Investment Grade Income Fund by 9.8% during the 4th quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider's stock worth $8,897,000 after buying an additional 63,734 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Western Asset Investment Grade Income Fund by 13.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 223,849 shares of the financial services provider's stock worth $2,794,000 after buying an additional 25,947 shares during the period. Jones Financial Companies Lllp raised its position in shares of Western Asset Investment Grade Income Fund by 6.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 187,621 shares of the financial services provider's stock worth $2,387,000 after buying an additional 11,267 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in Western Asset Investment Grade Income Fund by 54.7% in the fourth quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider's stock valued at $2,340,000 after acquiring an additional 66,296 shares during the last quarter. Hedge funds and other institutional investors own 18.99% of the company's stock.

Western Asset Investment Grade Income Fund Stock Down 0.3%

NYSE PAI opened at $12.21 on Wednesday. Western Asset Investment Grade Income Fund has a 12 month low of $11.41 and a 12 month high of $13.66. The company has a 50-day moving average of $12.60 and a 200-day moving average of $12.60.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a dividend of $0.0525 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend 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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