First Trust Portfolios Amends 13G/A for Western Asset Trust
Ticker: IGI · Form: SC 13G/A · Filed: Jan 10, 2024 · CIK: 1462586
| Field | Detail |
|---|---|
| Company | Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) |
| Form Type | SC 13G/A |
| Filed Date | Jan 10, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**First Trust Portfolios updated their passive stake in Western Asset Trust, signaling continued institutional interest.**
AI Summary
First Trust Portfolios L.P. filed an amended Schedule 13G/A on January 10, 2024, indicating their ownership of Common Stock in Western Asset Investment Grade Defined Opportunity Trust Inc. as of December 31, 2023. This is the 19th amendment to their filing, showing a continued passive investment in the company. For investors, this means a significant institutional investor maintains a position, which can be a sign of confidence, but the filing doesn't disclose the exact number of shares or percentage owned, so the impact on stock price is unclear without that detail.
Why It Matters
This filing shows that a major institutional investor, First Trust Portfolios L.P., continues to hold a position in Western Asset Investment Grade Defined Opportunity Trust Inc., signaling ongoing interest in the company's performance.
Risk Assessment
Risk Level: low — This is a routine amendment to a passive investment filing and does not indicate any immediate risk or significant change in strategy.
Analyst Insight
Investors should note the continued presence of a large institutional investor, First Trust Portfolios L.P., in Western Asset Investment Grade Defined Opportunity Trust Inc., but should seek further information on the exact percentage of ownership to gauge the full impact.
Key Numbers
- 19 — Amendment Number (This is the 19th amendment to the Schedule 13G filing for Western Asset Investment Grade Defined Opportunity Trust Inc.)
- December 31, 2023 — Date of Event (The date as of which the ownership information in the filing is reported.)
- January 10, 2024 — Filing Date (The date the SC 13G/A was filed with the SEC.)
Key Players & Entities
- First Trust Portfolios L.P. (company) — the reporting person filing the SC 13G/A
- Western Asset Investment Grade Defined Opportunity Trust Inc. (company) — the issuer of the securities
- First Trust Advisors L.P. (company) — a reporting person listed with an IRS Identification No.
- The Charger Corporation (company) — a reporting person listed with an IRS Identification No.
- Illinois (company) — place of organization for First Trust Portfolios L.P.
Forward-Looking Statements
- First Trust Portfolios L.P. will continue to hold a significant, passive stake in Western Asset Investment Grade Defined Opportunity Trust Inc. (First Trust Portfolios L.P.) — medium confidence, target: December 31, 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, specifically Amendment No. 19, filed under Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The primary reporting person is First Trust Portfolios L.P., with First Trust Advisors L.P. and The Charger Corporation also listed as reporting persons with IRS Identification Numbers.
What is the subject company of this filing?
The subject company, or issuer, is Western Asset Investment Grade Defined Opportunity Trust Inc., with CUSIP Number 95790A101.
What is the date of the event that required this filing?
The date of the event which required the filing of this statement is December 31, 2023.
Where is First Trust Portfolios L.P. organized?
First Trust Portfolios L.P. is organized in Illinois, as stated in the 'Citizenship or Place of Organization of each Reporting Person' section.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 10, 2024 regarding Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI).