Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Increases Dividend to $0.07 Per Share

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) declared a monthly dividend on Wednesday, February 21st, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, April 22nd. This is an increase 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% annually 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 %

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

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 14.8% during the second quarter. Wells Fargo & Company MN now owns 113,546 shares of the company’s stock valued at $1,853,000 after buying an additional 14,677 shares in the last quarter. Bank of America Corp DE raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 39.8% during the fourth quarter. Bank of America Corp DE now owns 104,482 shares of the company’s stock valued at $1,701,000 after buying an additional 29,747 shares in the last quarter. Raymond James & Associates raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 4.1% during the first quarter. Raymond James & Associates now owns 60,346 shares of the company’s stock valued at $1,130,000 after buying an additional 2,373 shares in the last quarter. Stifel Financial Corp raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 3.1% during the fourth quarter. Stifel Financial Corp now owns 61,358 shares of the company’s stock valued at $1,079,000 after buying an additional 1,871 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 5.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,749 shares of the company’s stock valued at $538,000 after buying an additional 1,474 shares in 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.