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

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI)’s share price dropped 0.4% during mid-day trading on Wednesday . The stock traded as low as $15.70 and last traded at $15.80. 35,825 shares traded hands during mid-day trading, an increase of 121% from the average daily volume of 16,200 shares. The stock had previously closed at $15.86.

Western Asset Investment Grade Defined Opportunity Trust Trading Down 0.4%

The company has a fifty day moving average price of $15.94 and a two-hundred day moving average price of $16.09.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank raised its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 58.3% during the first quarter. Comerica Bank now owns 1,900 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares during the period. Bank of America Corp DE increased its holdings in Western Asset Investment Grade Defined Opportunity Trust by 9.6% during the 2nd 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 increased its holdings in Western Asset Investment Grade Defined Opportunity Trust by 7.6% during the 3rd 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 raised its stake 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 purchasing an additional 1,000 shares during the period. Finally, 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 purchasing 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.