Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Plans Monthly Dividend of $0.07

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) declared a monthly dividend on Wednesday, February 21st, Wall Street Journal reports. Investors of record on Tuesday, April 23rd will be paid a dividend of 0.07 per share on Wednesday, May 1st. This represents a $0.84 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Monday, April 22nd. This is a boost from Western Asset Investment Grade Defined Opportunity Trust’s previous monthly dividend of $0.07.

Western Asset Investment Grade Defined Opportunity Trust has decreased its dividend by an average of 1.5% per year over the last three years and has raised its dividend every year for the last 2 years.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

Shares of IGI opened at $16.69 on Friday. The business’s 50-day moving average price is $17.03 and its 200 day moving average price is $16.74. Western Asset Investment Grade Defined Opportunity Trust has a 1-year low of $15.13 and a 1-year high of $17.79.

Hedge Funds Weigh In On Western Asset Investment Grade Defined Opportunity Trust

A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its stake in Western Asset Investment Grade Defined Opportunity Trust by 100.0% in the 4th quarter. Comerica Bank now owns 2,400 shares of the company’s stock worth $42,000 after purchasing an additional 1,200 shares in the last quarter. Invesco Ltd. grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 1.1% during the 1st quarter. Invesco Ltd. now owns 120,387 shares of the company’s stock valued at $2,253,000 after acquiring an additional 1,363 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 5.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,749 shares of the company’s stock valued at $538,000 after acquiring an additional 1,474 shares in the last quarter. Stifel Financial Corp grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 3.1% during the 4th quarter. Stifel Financial Corp now owns 61,358 shares of the company’s stock valued at $1,079,000 after acquiring an additional 1,871 shares in the last quarter. Finally, Raymond James & Associates grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 4.1% during the 1st quarter. Raymond James & Associates now owns 60,346 shares of the company’s stock valued at $1,130,000 after acquiring an additional 2,373 shares in the last quarter.

About Western Asset Investment Grade Defined Opportunity Trust

Western Asset Investment Grade Defined Opportunity Trust Inc is a close-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd, Western Asset Management Company Ltd., and Western Asset Management Company Limited.