Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Sees Large Decline in Short Interest

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the recipient of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 591 shares, a decrease of 78.1% from the April 15th total of 2,700 shares. Based on an average trading volume of 27,707 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Comerica Bank increased its position 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 buying an additional 700 shares in the last quarter. Arax Advisory Partners purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust in the fourth quarter valued at $38,000. Stifel Financial Corp increased its position 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 buying an additional 6,312 shares in the last quarter. Janney Montgomery Scott LLC increased its position 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 buying an additional 1,000 shares in the last quarter. Finally, Bank of America Corp DE increased its position 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 buying an additional 2,730 shares in the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Trading Up 0.1%

NYSE:IGI traded up $0.01 during trading hours on Wednesday, hitting $16.11. The company’s stock had a trading volume of 12,266 shares, compared to its average volume of 19,671. The business’s 50-day moving average is $16.14 and its two-hundred day moving average is $16.37. Western Asset Investment Grade Defined Opportunity Trust has a 52-week low of $15.78 and a 52-week high of $17.09.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be given a $0.071 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a yield of 5.3%.

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.