Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Short Interest Down 20.7% in March

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 13,400 shares, a decrease of 20.7% from the March 15th total of 16,900 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily volume of 18,600 shares, the days-to-cover ratio is currently 0.7 days.

Western Asset Investment Grade Income Fund Stock Performance

Shares of PAI stock traded up $0.12 during trading hours on Wednesday, hitting $12.09. 12,714 shares of the company were exchanged, compared to its average volume of 17,418. Western Asset Investment Grade Income Fund has a one year low of $11.41 and a one year high of $13.18. The business's 50-day simple moving average is $12.47 and its two-hundred day simple moving average is $12.53.

Western Asset Investment Grade Income Fund Increases Dividend

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

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Western Asset Investment Grade Income Fund during the fourth quarter valued at $574,000. 1607 Capital Partners LLC boosted its holdings in shares of Western Asset Investment Grade Income Fund by 34.0% in the 4th quarter. 1607 Capital Partners LLC now owns 662,505 shares of the financial services provider's stock valued at $8,288,000 after buying an additional 168,193 shares during the period. StoneX Group Inc. bought a new stake in shares of Western Asset Investment Grade Income Fund during the 4th quarter valued at about $249,000. SeaBridge Investment Advisors LLC grew its position in shares of Western Asset Investment Grade Income Fund by 1.9% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 145,231 shares of the financial services provider's stock valued at $1,817,000 after buying an additional 2,663 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Western Asset Investment Grade Income Fund by 58.7% during the fourth quarter. Jones Financial Companies Lllp now owns 155,099 shares of the financial services provider's stock worth $1,940,000 after acquiring an additional 57,376 shares during the period. 18.99% of the stock is owned by institutional investors and hedge funds.

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.