Western Asset Investment Grade Defined Opportunity Trust (NYSE:IGI) Stock Price Down 1.9% – Here’s What Happened

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI)’s stock price was down 1.9% on Wednesday. The stock traded as low as $15.87 and last traded at $15.95. 11,615 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 17,043 shares. The stock had previously closed at $16.26.

Western Asset Investment Grade Defined Opportunity Trust Trading Up 0.0%

The stock’s fifty day moving average price is $15.82 and its 200-day moving average price is $16.00.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.0710 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.85 annualized dividend and a yield of 5.4%.

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

A number of hedge funds have recently modified their holdings of IGI. Hennion & Walsh Asset Management Inc. lifted its position in Western Asset Investment Grade Defined Opportunity Trust by 226.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 108,376 shares of the company’s stock valued at $1,746,000 after buying an additional 75,169 shares during the last quarter. Sit Investment Associates Inc. raised its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 63.2% in the 4th quarter. Sit Investment Associates Inc. now owns 767,986 shares of the company’s stock valued at $12,672,000 after acquiring an additional 297,365 shares during the period. 1607 Capital Partners LLC lifted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 16.9% in the 4th quarter. 1607 Capital Partners LLC now owns 380,260 shares of the company’s stock worth $6,274,000 after acquiring an additional 54,899 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust during the 2nd quarter worth approximately $25,000. Finally, Whipplewood Advisors LLC increased its holdings 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 valued at $985,000 after purchasing an additional 1,046 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.