Western Asset Investment Grade Defined Opportunity Trust (NYSE:IGI) Trading 0% Higher – Should You Buy?

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

Western Asset Investment Grade Defined Opportunity Trust Price Performance

The company has a 50-day moving average price of $16.08 and a 200 day moving average price of $16.25.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.071 dividend. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date is Monday, August 24th.

Institutional Investors Weigh In On Western Asset Investment Grade Defined Opportunity Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank lifted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the first quarter. Comerica Bank now owns 1,900 shares of the company’s stock worth $32,000 after buying an additional 700 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Western Asset Investment Grade Defined Opportunity Trust by 3.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 30,485 shares of the company’s stock valued at $503,000 after acquiring an additional 1,000 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in 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 worth $985,000 after purchasing an additional 1,046 shares in the last quarter. Arax Advisory Partners purchased a new stake in Western Asset Investment Grade Defined Opportunity Trust in the 4th quarter worth $38,000. Finally, Bank of America Corp DE boosted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 9.6% during 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.

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.