Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Short Interest Down 35.8% in August

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 7,085 shares, a decline of 35.8% from the July 30th total of 11,035 shares. Based on an average daily trading volume, of 16,418 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Western Asset Investment Grade Income Fund Trading Down 0.5%

PAI stock traded down $0.06 on Tuesday, reaching $11.82. 34,324 shares of the company’s stock were exchanged, compared to its average volume of 15,594. The stock has a fifty day moving average of $12.00 and a 200-day moving average of $12.16. Western Asset Investment Grade Income Fund has a twelve month low of $11.72 and a twelve month high of $13.01.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Several institutional investors have recently made changes to their positions in the stock. Aviance Capital Partners LLC grew its stake in shares of Western Asset Investment Grade Income Fund by 3.9% during the 4th quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 1,431 shares during the period. Susquehanna International Group LLP lifted its stake in shares of Western Asset Investment Grade Income Fund by 16.0% in the second quarter. Susquehanna International Group LLP now owns 12,605 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 1,734 shares during the period. Bank of America Corp DE boosted 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 worth $109,000 after buying an additional 2,267 shares in the last quarter. Fifth Third Bancorp acquired a new position in Western Asset Investment Grade Income Fund during the first quarter worth about $30,000. Finally, Kestra Advisory Services LLC purchased a new position in Western Asset Investment Grade Income Fund in the fourth quarter valued at about $32,000. 18.99% of the stock is currently owned by hedge funds and other institutional investors.

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.