SCHEDULE 13G/A: 1607 Capital Partners Discloses 6.97% Passive Stake in Western Asset Investment Grade Income Fund

1607 Capital Partners, LLC has filed an amended Schedule 13G, reporting a 6.97% beneficial ownership stake in Western Asset Investment Grade Income Fund Inc. as of December 31, 2024.

Summary

• 1607 Capital Partners, LLC, a Delaware-based investment adviser, has filed an Amendment No. 3 to Schedule 13G.
• The filing reports beneficial ownership of 662,505 shares of Common stock in Western Asset Investment Grade Income Fund Inc.
• This ownership represents 6.97% of the issuer's class of securities.
• 1607 Capital Partners, LLC holds sole voting power and sole dispositive power over all 662,505 shares.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate a positive or negative sentiment regarding the issuer's performance or outlook.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the issuer's future performance or strategy.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." Kevin Rutherford, Chief Compliance Officer, 1607 Capital Partners, LLC

Industry Context

This filing is a routine disclosure of a significant passive ownership stake by an investment adviser in a closed-end investment fund. Such filings provide transparency regarding institutional holdings, which can be of interest to other investors tracking institutional sentiment and ownership concentration within the investment fund sector.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's passive stake in the fund.

Key Dates

Keywords

Western Asset Investment Grade Income Fund Inc., 1607 Capital Partners LLC, Schedule 13G, Beneficial Ownership, Investment Fund, Common Stock, SEC Filing, Institutional Investor, Passive Investment