Raymond James Financial Inc. Invests $1.72 Million in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI)

Raymond James Financial Inc. purchased a new stake in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 105,563 shares of the company’s stock, valued at approximately $1,722,000.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 1,333.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,150 shares of the company’s stock worth $35,000 after buying an additional 2,000 shares in the last quarter. Melfa Wealth Management Inc. bought a new stake in Western Asset Investment Grade Defined Opportunity Trust in the fourth quarter worth approximately $170,000. Wells Fargo & Company MN boosted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 16.6% during the 4th quarter. Wells Fargo & Company MN now owns 82,775 shares of the company’s stock worth $1,350,000 after purchasing an additional 11,794 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Western Asset Investment Grade Defined Opportunity Trust in the fourth quarter worth approximately $1,038,000.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

Shares of Western Asset Investment Grade Defined Opportunity Trust stock opened at $16.33 on Friday. The business has a 50 day moving average price of $16.40 and a 200-day moving average price of $16.57. Western Asset Investment Grade Defined Opportunity Trust Inc. has a 52 week low of $15.70 and a 52 week high of $18.30.

Western Asset Investment Grade Defined Opportunity Trust Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were paid a $0.071 dividend. This is a positive change from Western Asset Investment Grade Defined Opportunity Trust’s previous dividend of $0.07. The ex-dividend date of this dividend was Monday, March 24th. This represents a yield of 5.14%.

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.