Western Asset Investment Grade Income Fund Inc (NYSE:PAI – Rating Receive ) was the target of a large increase in short interest in March. As of February 31st, there was a total short interest of 5,800 shares, an increase of 728.6 percent compared to 700 shares on March 15th. Based on an average daily volume of 14,500 shares, the day-to-cover ratio is currently 0.4 days.
Institutional trading of Western Asset Investment Grade Income Fund
A number of institutional investors have recently added to or reduced their stakes in PAI. Advisor Group Holdings Inc. boosted its holdings in Western Asset Investment Grade Income Fund by 73.1% in the first quarter. Advisor Group Holdings Inc. now owns 2,724 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,150 shares during the last quarter. UBS Group AG boosted its holdings in Western Asset Investment Grade Income Fund by 27.8% in the first quarter. UBS Group AG now owns 41,810 shares of the financial services provider’s stock valued at $569,000 after purchasing an additional 9,104 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Western Property Investment Grade Income Fund by 16.5% in the third quarter. Janney Montgomery Scott LLC now owns 14,482 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 2,049 shares during the last quarter. Allspring Global Investment Holdings LLC acquired a new position in shares of Western Asset Investment Grade Income Fund during the third quarter worth $124,000. Finally, Whitener Capital Management Inc. boosted its stake in shares of Western Property Investment Grade Income Fund by 15.4% in the third quarter. Whitner Capital Management Inc. now owns 22,050 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 2,950 shares during the last quarter. Institutional investors and hedge funds own 25.88% of the company’s shares.
Western Asset Investment Grade Income Fund stocks were up 0.1%
Shares of NYSE PAI traded up $0.01 during midday trading on Friday, reaching $11.92. 23,352 shares were exchanged compared to its average volume of 14,371. The company has a 50-day simple moving average of $11.98 and a 200-day simple moving average of $11.80. Western Asset Investment Grade Income Fund has a twelve month low of $10.74 and a twelve month high of $13.58.
Western Asset Investment Grade Income Fund Dividend Declaration
The business also recently announced a dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 24th were issued a $0.0465 dividend. The ex-dividend date was Thursday, March 23rd. This represents a yield of 4.78%.
About Western Asset Investment Grade Income Fund
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Western Asset Income Fund is a closed-end 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 United States fixed income market. It invests primarily in investment grade debt, including government securities, bank loans, commercial paper, and cash or cash equivalents.
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