Western Asset Investment Grade Defined Opportunity Trust (NYSE:IGI) Trading Down 1.9% – Here’s What Happened

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI)’s stock price dropped 1.9% during trading on Wednesday . The stock traded as low as $15.87 and last traded at $15.95. Approximately 11,615 shares traded hands during trading, a decline of 32% from the average session volume of 17,043 shares. The stock had previously closed at $16.26.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

The stock’s 50 day moving average price is $15.83 and its 200 day moving average price is $16.00.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be issued a dividend of $0.071 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date is Friday, November 20th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IGI. Sit Investment Associates Inc. increased its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 63.2% during the 4th quarter. Sit Investment Associates Inc. now owns 767,986 shares of the company’s stock worth $12,672,000 after purchasing an additional 297,365 shares during the last quarter. 1607 Capital Partners LLC boosted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 16.9% in the 4th quarter. 1607 Capital Partners LLC now owns 380,260 shares of the company’s stock valued at $6,274,000 after buying an additional 54,899 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 226.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 108,376 shares of the company’s stock valued at $1,746,000 after buying an additional 75,169 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 1.7% in the 1st quarter. Whipplewood Advisors LLC now owns 61,234 shares of the company’s stock valued at $985,000 after buying an additional 1,046 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Western Asset Investment Grade Defined Opportunity Trust in the second quarter valued at $25,000.

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.