Raymond James Financial Inc. Purchases New Shares in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)

Raymond James Financial Inc. acquired a new stake in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 45,867 shares of the financial services provider's stock, valued at approximately $574,000. Raymond James Financial Inc. owned approximately 0.48% of Western Asset Investment Grade Income Fund at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. StoneX Group Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $249,000. Aviance Capital Partners LLC grew its position in shares of Western Asset Investment Grade Income Fund by 12.6% in the 4th quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider's stock valued at $292,000 after acquiring an additional 2,612 shares during the period. SeaBridge Investment Advisors LLC raised its holdings in shares of Western Asset Investment Grade Income Fund by 1.9% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 145,231 shares of the financial services provider's stock valued at $1,817,000 after purchasing an additional 2,663 shares during the period. Jones Financial Companies Lllp lifted its stake in Western Asset Investment Grade Income Fund by 58.7% in the 4th quarter. Jones Financial Companies Lllp now owns 155,099 shares of the financial services provider's stock valued at $1,940,000 after purchasing an additional 57,376 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Western Asset Investment Grade Income Fund by 24.5% during 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 purchasing an additional 42,107 shares during the period. 18.99% of the stock is owned by institutional investors.

Western Asset Investment Grade Income Fund Stock Performance

Shares of PAI traded up $0.02 during mid-day trading on Wednesday, reaching $12.39. The company's stock had a trading volume of 1,788 shares, compared to its average volume of 16,483. Western Asset Investment Grade Income Fund Inc. has a 1-year low of $11.41 and a 1-year high of $13.18. The business has a 50-day simple moving average of $12.38 and a two-hundred day simple moving average of $12.50.

Western Asset Investment Grade Income Fund Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.0525 per share. This represents a dividend yield of 4.91%. The ex-dividend date of this dividend was Monday, March 24th. This is a boost from Western Asset Investment Grade Income Fund's previous dividend of $0.05.

Western Asset Investment Grade Income Fund Profile

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.