Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 18,100 shares, an increase of 170.1% from the February 13th total of 6,700 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 18,500 shares, the short-interest ratio is currently 1.0 days.
Institutional Trading of Western Asset Investment Grade Income Fund
Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in Western Asset Investment Grade Income Fund by 35.3% during 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 purchasing an additional 2,267 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of Western Asset Investment Grade Income Fund during the 4th quarter valued at approximately $249,000. Aviance Capital Partners LLC boosted its holdings in Western Asset Investment Grade Income Fund by 12.6% in the 4th quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider's stock worth $292,000 after buying an additional 2,612 shares during the period. Stifel Financial Corp grew its stake in Western Asset Investment Grade Income Fund by 6.4% in the 4th quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider's stock valued at $424,000 after buying an additional 2,038 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Western Asset Investment Grade Income Fund during the 4th quarter valued at $574,000. 18.99% of the stock is currently owned by institutional investors.
Western Asset Investment Grade Income Fund Stock Up 0.7 %
Shares of Western Asset Investment Grade Income Fund stock traded up $0.09 on Monday, reaching $12.66. 1,792 shares of the company traded hands, compared to its average volume of 18,082. The company has a 50 day moving average of $12.53 and a 200 day moving average of $12.61. Western Asset Investment Grade Income Fund has a 52 week low of $11.65 and a 52 week high of $13.18.
Western Asset Investment Grade Income Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 24th will be given a $0.0525 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Monday, March 24th.
About Western Asset Investment Grade Income Fund
(
Get Free Report)
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.
See Also
Before you consider Western Asset Investment Grade Income Fund, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Western Asset Investment Grade Income Fund wasn't on the list.
While Western Asset Investment Grade Income Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
