Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Get Free Report) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 7,085 shares, a decrease of 35.8% from the July 30th total of 11,035 shares. Based on an average daily trading volume, of 16,418 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are short sold.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. bought a new position in Western Asset Investment Grade Income Fund during the 4th quarter worth $14,335,000. 1607 Capital Partners LLC lifted its stake in Western Asset Investment Grade Income Fund by 9.8% in the fourth quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock valued at $8,897,000 after buying an additional 63,734 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Western Asset Investment Grade Income Fund by 54.7% during the fourth quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock valued at $2,340,000 after acquiring an additional 66,296 shares during the period. Fiera Capital Corp boosted its holdings in shares of Western Asset Investment Grade Income Fund by 44.0% during the fourth quarter. Fiera Capital Corp now owns 133,223 shares of the financial services provider’s stock valued at $1,663,000 after acquiring an additional 40,732 shares during the period. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Western Asset Investment Grade Income Fund by 469.6% during the fourth quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock valued at $668,000 after acquiring an additional 44,160 shares during the period. Institutional investors and hedge funds own 18.99% of the company’s stock.
Western Asset Investment Grade Income Fund Stock Performance
PAI stock traded up $0.01 during midday trading on Wednesday, reaching $11.85. The company had a trading volume of 18,264 shares, compared to its average volume of 15,609. The stock has a 50 day moving average price of $12.00 and a 200 day moving average price of $12.16. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.72 and a fifty-two week high of $13.01.
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.
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