Western Asset Investment Grade Defined Opportunity Trust (NYSE:IGI) Trading Up 0% – Should You Buy?

Shares of Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) shot up 0% during trading on Friday . The stock traded as high as $16.19 and last traded at $16.0950. Approximately 4,789 shares traded hands during trading, a decline of 73% from the average session volume of 17,829 shares. The stock had previously closed at $16.09.

Western Asset Investment Grade Defined Opportunity Trust Stock Up 0.0%

The company’s fifty day simple moving average is $16.08 and its two-hundred day simple moving average is $16.25.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank lifted 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 buying an additional 700 shares in the last quarter. Arax Advisory Partners bought a new position in Western Asset Investment Grade Defined Opportunity Trust during the fourth quarter worth about $38,000. Stifel Financial Corp increased its position in Western Asset Investment Grade Defined Opportunity Trust by 61.8% during the fourth quarter. Stifel Financial Corp now owns 16,530 shares of the company’s stock worth $273,000 after acquiring an additional 6,312 shares during the period. Janney Montgomery Scott LLC raised its stake in 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 worth $503,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 9.6% in 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.

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.