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

Raymond James Financial Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew 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 period. Hennion & Walsh Asset Management Inc. grew its position 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 valued at $2,681,000 after buying an additional 42,107 shares during the period. Finally, SeaBridge Investment Advisors LLC grew its position in Western Asset Investment Grade Income Fund by 1.9% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 145,231 shares of the financial services provider's stock valued at $1,817,000 after buying an additional 2,663 shares during the period. 18.99% of the stock is owned by institutional investors.

Western Asset Investment Grade Income Fund Stock Performance

PAI stock traded up $0.06 during mid-day trading on Friday, hitting $11.88. The company had a trading volume of 23,736 shares, compared to its average volume of 17,664. Western Asset Investment Grade Income Fund Inc. has a 12 month low of $11.41 and a 12 month high of $13.18. The stock's fifty day moving average price is $12.56 and its two-hundred day moving average price is $12.58.

Western Asset Investment Grade Income Fund Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a $0.0525 dividend. This represents a dividend yield of 4.91%. The ex-dividend date 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.