SCHEDULE 13G/A: Sit Investment Associates Discloses 2.7% Stake in Western Asset Investment Grade Defined Opportunity Trust
Beneficial Ownership Disclosure
Sit Investment Associates, Inc. has filed an amended Schedule 13G, reporting a 2.7% beneficial ownership stake in Western Asset Investment Grade Defined Opportunity Trust Inc. as of December 31, 2024.
Summary
- Sit Investment Associates, Inc. (SIA) filed an Amendment No. 2 to Schedule 13G regarding its beneficial ownership in Western Asset Investment Grade Defined Opportunity Trust Inc.
- As of December 31, 2024, SIA beneficially owns 164,657 shares of Common Stock.
- This ownership represents 2.7% of the issuer's class of securities.
- The ownership percentage is calculated based on 5,993,650 shares outstanding as of May 31, 2024, adjusted for shares redeemed via a tender offer dated October 1, 2024.
- SIA, an investment adviser, holds these shares for client accounts and disclaims beneficial ownership under Rule 13d-4 of the Securities Exchange Act of 1934.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently be considered positive or negative for the issuer or the reporting person beyond the mere fact of the ownership stake.
Future Outlook
The document does not provide any forward-looking statements or guidance.
Industry Context
This filing indicates an institutional investment adviser's stake in a closed-end fund, which is a common practice for asset managers seeking exposure to specific fixed-income or equity strategies. It reflects routine portfolio management activity rather than a strategic industry shift.
Stakeholder Impact
- Shareholders: The disclosure provides transparency regarding a significant institutional holder's stake, which can be relevant for understanding the shareholder base.
- Clients of Sit Investment Associates, Inc.: The shares are held on behalf of client accounts, meaning these clients have exposure to Western Asset Investment Grade Defined Opportunity Trust Inc. through SIA's management.
Key Dates
| Date | Description |
|---|---|
| 2024-05-31 | Date of 5,993,650 shares of common stock outstanding as reported in the Issuer's Form N-CSRS, used as a basis for ownership percentage calculation. |
| 2024-10-01 | Date of tender offer for share redemption, which adjusted the total shares outstanding for calculation. |
| 2024-12-31 | Date of event which requires filing of this statement, representing the reporting period end date for beneficial ownership. |
| 2025-01-03 | Date of filing and signature by Sit Investment Associates, Inc. |
Keywords
Western Asset Investment Grade Defined Opportunity Trust Inc., Sit Investment Associates, Schedule 13G, Beneficial Ownership, Common Stock, Investment Adviser, SEC Filing, Closed-End Fund
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.