Western Asset Investment Grade Defined Opportunity Trust (NYSE:IGI) Stock Price Up 0.1% – Should You Buy?

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was up 0.1% during trading on Monday . The company traded as high as $16.55 and last traded at $16.4910. Approximately 9,642 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 16,378 shares. The stock had previously closed at $16.48.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

The business’s 50-day simple moving average is $16.46 and its 200-day simple moving average is $16.57.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.071 per share. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, February 20th.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IGI. Comerica Bank lifted its holdings 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 buying an additional 700 shares during the period. Whipplewood Advisors LLC purchased a new position in Western Asset Investment Grade Defined Opportunity Trust during the second quarter valued at approximately $987,000. Shaker Financial Services LLC raised its position in Western Asset Investment Grade Defined Opportunity Trust by 118.0% during the second quarter. Shaker Financial Services LLC now owns 26,623 shares of the company’s stock valued at $443,000 after acquiring an additional 14,411 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Western Asset Investment Grade Defined Opportunity Trust in the second quarter valued at approximately $379,000. Finally, Guggenheim Capital LLC boosted its position in Western Asset Investment Grade Defined Opportunity Trust by 37.9% in the 2nd quarter. Guggenheim Capital LLC now owns 135,712 shares of the company’s stock worth $2,250,000 after purchasing an additional 37,292 shares in 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.