Welcome to our dedicated page for Western Asset Investment Grade Opportunity Trust news (Ticker: IGI), a resource for investors and traders seeking the latest updates and insights on Western Asset Investment Grade Opportunity Trust stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Western Asset Investment Grade Opportunity Trust's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Western Asset Investment Grade Opportunity Trust's position in the market.
Western Asset Investment Grade Defined Opportunity Trust, trading under 'IGI,' announced stockholders approved converting the Fund to a perpetual fund at a special meeting on June 7, 2024.
This entails eliminating its planned liquidation on December 2, 2024. A tender offer will start in September 2024 for up to 100% of the Fund’s Common Stock at net asset value.
If at least $50 million remains post-tender, the Fund will be renamed 'Western Asset Investment Grade Opportunity Trust,' retaining the ticker 'IGI.'
If less than $50 million remains, the Fund will liquidate in December 2024. A fee waiver of 10 basis points on the annual management fee will be applied until June 7, 2026.
The Fund is managed by Franklin Templeton Fund Adviser and sub-advised by various Western Asset Management entities.
Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) reported its financial position as of February 29, 2024. The Total Net Assets reached $188,642,691, with NAV Per Share of Common Stock at $17.39. The Market Price Per Share was $17.06, indicating a slight premium. The Fund also disclosed Total Net Investment Income of $2,271,249 and Total Net Realized/Unrealized Gain of $3,462,903. Earnings per Common Share Outstanding showed growth in various categories. Undistributed Net Investment Income was reported at $(518,605). The Fund's financial data is unaudited, and it files reports with the SEC regularly.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.