Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) to Issue Monthly Dividend of $0.07 on November 30th

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) declared a monthly dividend on Wednesday, August 5th. Shareholders of record on Friday, November 20th will be given a dividend of 0.071 per share on Monday, November 30th. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Friday, November 20th.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

Shares of Western Asset Investment Grade Defined Opportunity Trust stock opened at $15.76 on Friday. The stock’s 50 day simple moving average is $16.00 and its 200-day simple moving average is $16.16. Western Asset Investment Grade Defined Opportunity Trust has a 1-year low of $15.56 and a 1-year high of $17.09.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 58.3% during the first quarter. Comerica Bank now owns 1,900 shares of the company’s stock worth $32,000 after buying an additional 700 shares during the period. Janney Montgomery Scott LLC boosted its position 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 purchasing an additional 1,000 shares during the period. Whipplewood Advisors LLC boosted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 1.7% during the 1st quarter. Whipplewood Advisors LLC now owns 61,234 shares of the company’s stock worth $985,000 after purchasing an additional 1,046 shares during the period. Arax Advisory Partners acquired a new stake in Western Asset Investment Grade Defined Opportunity Trust in the 4th quarter valued at approximately $38,000. Finally, Bank of America Corp DE increased its holdings in 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 purchasing an additional 2,730 shares during the last quarter.

About Western Asset Investment Grade Defined Opportunity Trust

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.