1607 Capital Partners LLC Acquires 54,899 Shares of Western Asset Investment Grade Defined Opportunity Trust Inc. $IGI

1607 Capital Partners LLC raised its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) by 16.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 380,260 shares of the company’s stock after buying an additional 54,899 shares during the period. 1607 Capital Partners LLC’s holdings in Western Asset Investment Grade Defined Opportunity Trust were worth $6,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IGI. Comerica Bank increased 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 purchasing an additional 700 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 9.6% in 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 during the last quarter. UBS Group AG increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 7.6% in 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 during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 3.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,485 shares of the company’s stock worth $503,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Sit Investment Associates Inc. increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 63.2% in the fourth quarter. Sit Investment Associates Inc. now owns 767,986 shares of the company’s stock worth $12,672,000 after purchasing an additional 297,365 shares during the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Stock Up 0.0%

Shares of IGI stock opened at $16.13 on Thursday. Western Asset Investment Grade Defined Opportunity Trust Inc. has a 12-month low of $15.78 and a 12-month high of $17.09. The stock’s 50-day moving average price is $16.12 and its 200-day moving average price is $16.28.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

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

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.