Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) to Issue Monthly Dividend of $0.07 on May 1st

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) declared a monthly dividend on Wednesday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, April 23rd will be given a dividend of 0.07 per share on Wednesday, May 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Monday, April 22nd. This is a boost from Western Asset Investment Grade Defined Opportunity Trust’s previous monthly dividend of $0.07.

Western Asset Investment Grade Defined Opportunity Trust has decreased its dividend payment by an average of 1.5% per year over the last three years and has raised its dividend annually for the last 2 consecutive years.

Western Asset Investment Grade Defined Opportunity Trust Trading Down 0.7 %

IGI opened at $16.60 on Friday. Western Asset Investment Grade Defined Opportunity Trust has a one year low of $15.13 and a one year high of $17.79. The business’s 50-day simple moving average is $17.03 and its 200-day simple moving average is $16.73.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Comerica Bank increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 100.0% in the 4th quarter. Comerica Bank now owns 2,400 shares of the company’s stock valued at $42,000 after acquiring an additional 1,200 shares during the last quarter. Invesco Ltd. grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 1.1% during the 1st quarter. Invesco Ltd. now owns 120,387 shares of the company’s stock worth $2,253,000 after buying an additional 1,363 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 5.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,749 shares of the company’s stock worth $538,000 after buying an additional 1,474 shares during the last quarter. Stifel Financial Corp grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 3.1% during the 4th quarter. Stifel Financial Corp now owns 61,358 shares of the company’s stock worth $1,079,000 after buying an additional 1,871 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 4.1% during the 1st quarter. Raymond James & Associates now owns 60,346 shares of the company’s stock worth $1,130,000 after buying an additional 2,373 shares during the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Company Profile

Western Asset Investment Grade Defined Opportunity Trust Inc is a close-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd, Western Asset Management Company Ltd., and Western Asset Management Company Limited.