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

Key Points

• Short interest plunged 43.9% to 1,734 shares as of April 15, leaving a days-to-cover ratio of 0.1 and effectively 0.0% of shares sold short.
• The fund declared a monthly dividend of $0.0525 per share, payable May 29 to holders of record on May 21, implying an annualized yield of 5.2%.
• PAI traded at $12.16 on Monday with unusually high volume (95,326 shares vs. average ~12,225), trading within a 12‑month range of $11.72–$13.66 and 50/200‑day SMAs of $12.31/$12.46.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totaling 1,734 shares, a drop of 43.9% from the March 31st total of 3,093 shares. Based on an average daily trading volume, of 12,312 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Western Asset Investment Grade Income Fund Stock Up 0.0%

PAI stock traded up $0.01 during trading on Monday, reaching $12.16. 95,326 shares of the stock were exchanged, compared to its average volume of 12,225. Western Asset Investment Grade Income Fund has a twelve month low of $11.72 and a twelve month high of $13.66. The stock has a 50 day simple moving average of $12.31 and a 200-day simple moving average of $12.46.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.0525 per share. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Institutional investors have recently added to or reduced their stakes in the stock. Shaker Financial Services LLC boosted its holdings in Western Asset Investment Grade Income Fund by 413.8% during the third quarter. Shaker Financial Services LLC now owns 57,081 shares of the financial services provider's stock valued at $735,000 after purchasing an additional 45,971 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Western Asset Investment Grade Income Fund during the third quarter valued at approximately $121,000. Aviance Capital Partners LLC boosted its holdings in Western Asset Investment Grade Income Fund by 6.0% during the third quarter. Aviance Capital Partners LLC now owns 36,633 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 2,082 shares in the last quarter. CWM LLC boosted its holdings in Western Asset Investment Grade Income Fund by 760.9% during the third quarter. CWM LLC now owns 3,960 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in Western Asset Investment Grade Income Fund by 8.9% during the third quarter. Fiera Capital Corp now owns 92,491 shares of the financial services provider's stock valued at $1,186,000 after purchasing an additional 7,530 shares in the last quarter. 18.99% of the stock is owned by institutional investors and hedge funds.

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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