Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Sees Significant Decline in Short Interest

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) saw a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 6,700 shares, a decline of 65.3% from the January 31st total of 19,300 shares. Based on an average trading volume of 17,100 shares, the short-interest ratio is currently 0.4 days.

Western Asset Investment Grade Income Fund Stock Down 0.5 %

Shares of NYSE PAI traded down $0.07 during trading on Tuesday, hitting $12.71. 15,362 shares of the company traded hands, compared to its average volume of 18,438. Western Asset Investment Grade Income Fund has a 1 year low of $11.65 and a 1 year high of $13.18. The company has a 50-day moving average price of $12.52 and a 200-day moving average price of $12.61.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 24th will be given a dividend of $0.0525 per share. The ex-dividend date is Monday, March 24th. This represents a $0.63 dividend on an annualized basis and a yield of 4.96%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in Western Asset Investment Grade Income Fund by 1,527.4% in the third quarter. International Assets Investment Management LLC now owns 91,949 shares of the financial services provider's stock worth $1,182,000 after acquiring an additional 86,299 shares during the last quarter. SeaBridge Investment Advisors LLC grew its position in Western Asset Investment Grade Income Fund by 1.9% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 145,231 shares of the financial services provider's stock worth $1,817,000 after buying an additional 2,663 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Western Asset Investment Grade Income Fund by 24.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 214,320 shares of the financial services provider's stock worth $2,681,000 after buying an additional 42,107 shares during the last quarter. Bank of America Corp DE grew its position in Western Asset Investment Grade Income Fund by 35.3% in the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider's stock worth $109,000 after buying an additional 2,267 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Western Asset Investment Grade Income Fund by 6.4% in the fourth quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider's stock worth $424,000 after buying an additional 2,038 shares during the last quarter. Institutional investors and hedge funds own 18.99% of the company's stock.

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.