Western Asset Investment Grade Defined Opportunity Trust Inc. to Issue Monthly Dividend of $0.07 (NYSE:IGI)

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) announced a monthly dividend on Thursday, November 16th, Wall Street Journal reports. Shareholders of record on Wednesday, January 24th will be given a dividend of 0.0695 per share on Thursday, February 1st. This represents a $0.83 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Tuesday, January 23rd.

Western Asset Investment Grade Defined Opportunity Trust has decreased its dividend payment by an average of 4.8% per year over the last three years and has increased its dividend annually for the last 1 consecutive years.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

IGI opened at $16.29 on Thursday. The stock’s fifty day moving average is $15.74 and its 200-day moving average is $16.15. Western Asset Investment Grade Defined Opportunity Trust has a one year low of $15.13 and a one year high of $17.44.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 39.8% in the 4th quarter. Bank of America Corp DE now owns 104,482 shares of the company’s stock worth $1,701,000 after purchasing an additional 29,747 shares during the last quarter. UBS Group AG boosted its holdings in Western Asset Investment Grade Defined Opportunity Trust by 5.2% during the first quarter. UBS Group AG now owns 461,487 shares of the company’s stock worth $7,813,000 after buying an additional 22,726 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in Western Asset Investment Grade Defined Opportunity Trust in the third quarter worth approximately $288,000. First Trust Advisors LP bought a new position in shares of Western Asset Investment Grade Defined Opportunity Trust in the first quarter valued at $265,000. Finally, Wells Fargo & Company MN lifted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 14.8% during the 2nd quarter. Wells Fargo & Company MN now owns 113,546 shares of the company’s stock valued at $1,853,000 after acquiring an additional 14,677 shares during the last quarter.

About Western Asset Investment Grade Defined Opportunity Trust

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.