Western Asset Investment Grade Defined Opportunity Trust (NYSE:IGI) Shares Down 0.4% – Should You Sell?

Shares of Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) traded down 0.4% during trading on Wednesday . The stock traded as low as $15.70 and last traded at $15.80. 35,825 shares were traded during trading, an increase of 121% from the average session volume of 16,200 shares. The stock had previously closed at $15.86.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

The business’s fifty day moving average is $15.94 and its two-hundred day moving average is $16.08.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

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

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank increased its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the 1st quarter. Comerica Bank now owns 1,900 shares of the company’s stock valued at $32,000 after acquiring an additional 700 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 9.6% during the second quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock worth $517,000 after purchasing an additional 2,730 shares in the last quarter. UBS Group AG boosted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 7.6% during the third quarter. UBS Group AG now owns 327,440 shares of the company’s stock worth $5,465,000 after purchasing an additional 23,237 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of 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 buying an additional 1,000 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 63.2% during the 4th quarter. Sit Investment Associates Inc. now owns 767,986 shares of the company’s stock worth $12,672,000 after buying an additional 297,365 shares during the period.

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.