Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Up 472.4% in March

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 10,750 shares, an increase of 472.4% from the February 26th total of 1,878 shares. Based on an average trading volume of 38,462 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 38,462 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Western Asset Investment Grade Defined Opportunity Trust

Institutional investors have recently modified their holdings of the company. Comerica Bank lifted 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 worth $32,000 after buying an additional 700 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 3.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 30,485 shares of the company’s stock worth $503,000 after buying an additional 1,000 shares during the period. Arax Advisory Partners acquired a new position in Western Asset Investment Grade Defined Opportunity Trust in the 4th quarter valued at $38,000. Bank of America Corp DE grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock valued at $517,000 after buying an additional 2,730 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Western Asset Investment Grade Defined Opportunity Trust by 61.8% in the 4th quarter. Stifel Financial Corp now owns 16,530 shares of the company’s stock worth $273,000 after acquiring an additional 6,312 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Trading Down 1.2%

NYSE:IGI traded down $0.20 during trading hours on Tuesday, reaching $15.91. The company’s stock had a trading volume of 5,204 shares, compared to its average volume of 19,384. Western Asset Investment Grade Defined Opportunity Trust has a one year low of $15.70 and a one year high of $17.09. The business’s 50-day moving average is $16.39 and its 200-day moving average is $16.52.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be issued a $0.071 dividend. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Thursday, May 21st.

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.