Western Asset Investment Grade Defined Opportunity Trust (NYSE:IGI) Stock Price Down 0.4% – What’s Next?

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI)’s stock price was down 0.4% during mid-day trading on Wednesday . The company traded as low as $15.70 and last traded at $15.80. 35,825 shares traded hands during trading, an increase of 121% from the average session volume of 16,200 shares. The stock had previously closed at $15.86.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

The company has a 50 day simple moving average of $15.94 and a 200 day simple moving average of $16.09.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a $0.071 dividend. The ex-dividend date is Friday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Comerica Bank increased its stake in Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the 1st quarter. Comerica Bank now owns 1,900 shares of the company’s stock valued at $32,000 after buying an additional 700 shares during the last quarter. Arax Advisory Partners bought a new stake in Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter worth about $38,000. Stifel Financial Corp boosted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 61.8% during the 4th quarter. Stifel Financial Corp now owns 16,530 shares of the company’s stock worth $273,000 after buying an additional 6,312 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 3.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 30,485 shares of the company’s stock worth $503,000 after buying an additional 1,000 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock valued at $517,000 after acquiring an additional 2,730 shares in the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Company Profile

Western Asset Investment Grade Defined Opportunity Trust (NYSE: IGI) is a closed-end management investment company that seeks to provide high current income while preserving capital through investments primarily in investment-grade fixed-income securities. The trust pursues a total return strategy by allocating assets across a variety of debt instruments, including senior secured and unsecured corporate bonds, asset-backed securities, mortgage-backed securities and U.S. government agency obligations.

The fund’s portfolio is actively managed to capitalize on yield opportunities and manage risk, combining top-down macroeconomic analysis with bottom-up credit research.