Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Update

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 14,386 shares, an increase of 2,334.2% from the April 30th total of 591 shares. Based on an average trading volume of 24,316 shares, the short-interest ratio is currently 0.6 days.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

Shares of IGI traded down $0.02 during trading on Wednesday, reaching $16.22. 4,785 shares of the company traded hands, compared to its average volume of 19,007. Western Asset Investment Grade Defined Opportunity Trust has a twelve month low of $15.78 and a twelve month high of $17.09. The stock has a 50-day simple moving average of $16.11 and a 200-day simple moving average of $16.33.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a $0.071 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 5.3%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank boosted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the first quarter. Comerica Bank now owns 1,900 shares of the company’s stock valued at $32,000 after purchasing an additional 700 shares during the period. Arax Advisory Partners purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust in the fourth quarter valued at approximately $38,000. Stifel Financial Corp boosted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 61.8% in the fourth quarter. Stifel Financial Corp now owns 16,530 shares of the company’s stock valued at $273,000 after purchasing an additional 6,312 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 3.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,485 shares of the company’s stock valued at $503,000 after purchasing an additional 1,000 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 9.6% in the second quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock valued at $517,000 after purchasing an additional 2,730 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Company Profile

Western Asset Investment Grade Defined Opportunity Trust (NYSE: IGI) is a closed-end management investment company that seeks to provide high current income while preserving capital through investments primarily in investment-grade fixed-income securities. The trust pursues a total return strategy by allocating assets across a variety of debt instruments, including senior secured and unsecured corporate bonds, asset-backed securities, mortgage-backed securities and U.S. government agency obligations.

The fund’s portfolio is actively managed to capitalize on yield opportunities and manage risk, combining top-down macroeconomic analysis with bottom-up credit research.