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

Raymond James Financial Inc. acquired a new stake in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,867 shares of the financial services provider's stock, valued at approximately $574,000. Raymond James Financial Inc. owned about 0.48% of Western Asset Investment Grade Income Fund at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its stake in shares of 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 worth $1,940,000 after acquiring an additional 57,376 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Western Asset Investment Grade Income Fund by 24.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 214,320 shares of the financial services provider's stock worth $2,681,000 after buying an additional 42,107 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of Western Asset Investment Grade Income Fund during the 4th quarter valued at $249,000. SeaBridge Investment Advisors LLC grew its holdings in shares of Western Asset Investment Grade Income Fund by 1.9% during 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 acquiring an additional 2,663 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its stake in shares of Western Asset Investment Grade Income Fund by 12.6% in the fourth quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider's stock worth $292,000 after acquiring an additional 2,612 shares during the last quarter. Hedge funds and other institutional investors own 18.99% of the company's stock.

Western Asset Investment Grade Income Fund Price Performance

Shares of NYSE:PAI traded up $0.04 on Friday, reaching $12.37. The company had a trading volume of 5,052 shares, compared to its average volume of 16,682. The stock has a 50-day moving average price of $12.39 and a 200 day moving average price of $12.50. Western Asset Investment Grade Income Fund Inc. has a twelve month low of $11.41 and a twelve month high of $13.18.

Western Asset Investment Grade Income Fund Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.0525 per share. 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. This represents a dividend yield of 4.91%.

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.