Western Asset Investment Grade Defined Opportunity Trust (NYSE:IGI) Stock Price Up 0% – Should You Buy?

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI)’s share price was up 0% during trading on Friday . The company traded as high as $16.19 and last traded at $16.0950. 4,789 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 17,829 shares. The stock had previously closed at $16.09.

Western Asset Investment Grade Defined Opportunity Trust Trading Up 0.0%

The company has a 50-day moving average of $16.08 and a two-hundred day moving average of $16.25.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.071 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. raised its stake in 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 acquiring an additional 297,365 shares during the period. 1607 Capital Partners LLC increased its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 16.9% in the fourth quarter. 1607 Capital Partners LLC now owns 380,260 shares of the company’s stock worth $6,274,000 after purchasing an additional 54,899 shares in the last quarter. UBS Group AG increased its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 7.6% in the third quarter. UBS Group AG now owns 327,440 shares of the company’s stock worth $5,465,000 after purchasing an additional 23,237 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 226.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 108,376 shares of the company’s stock valued at $1,746,000 after purchasing an additional 75,169 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 31.6% during the 4th quarter. Wells Fargo & Company MN now owns 75,892 shares of the company’s stock valued at $1,252,000 after purchasing an additional 18,206 shares during the period.

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.