Hennion & Walsh Asset Management Inc. Boosts Stake in Western Asset Investment Grade Defined Opportunity Trust Inc. $IGI

Hennion & Walsh Asset Management Inc. raised its position in shares of Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) by 226.4% during the second quarter, HoldingsChannel reports. The firm owned 108,376 shares of the company’s stock after purchasing an additional 75,169 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Western Asset Investment Grade Defined Opportunity Trust were worth $1,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sit Investment Associates Inc. boosted its position in Western Asset Investment Grade Defined Opportunity Trust by 63.2% during the fourth quarter. Sit Investment Associates Inc. now owns 767,986 shares of the company’s stock valued at $12,672,000 after buying an additional 297,365 shares during the period. 1607 Capital Partners LLC increased its holdings 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 buying an additional 54,899 shares during the period. Arax Advisory Partners purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust in the fourth quarter worth about $38,000. UBS Group AG lifted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 7.6% in the 3rd quarter. UBS Group AG now owns 327,440 shares of the company’s stock valued at $5,465,000 after acquiring an additional 23,237 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 31.6% in the 4th quarter. Wells Fargo & Company MN now owns 75,892 shares of the company’s stock valued at $1,252,000 after acquiring an additional 18,206 shares during the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Trading Up 0.0%

Shares of IGI stock opened at $15.84 on Wednesday. Western Asset Investment Grade Defined Opportunity Trust Inc. has a fifty-two week low of $15.56 and a fifty-two week high of $17.09. The stock has a 50 day moving average price of $15.98 and a two-hundred day moving average price of $16.15.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a dividend of $0.071 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) annualized dividend and a yield of 5.4%.

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.