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

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,700 shares, an increase of 237.5% from the February 28th total of 800 shares. Based on an average daily volume of 14,800 shares, the short-interest ratio is presently 0.2 days.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

Western Asset Investment Grade Defined Opportunity Trust stock traded down $0.06 on Thursday, reaching $16.50. The company’s stock had a trading volume of 2,806 shares, compared to its average volume of 19,574. The business’s fifty day moving average price is $16.61 and its 200 day moving average price is $16.86. Western Asset Investment Grade Defined Opportunity Trust has a twelve month low of $16.09 and a twelve month high of $18.30.

Western Asset Investment Grade Defined Opportunity Trust Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.071 per share. This is a boost from Western Asset Investment Grade Defined Opportunity Trust’s previous dividend of $0.07. The ex-dividend date of this dividend is Monday, March 24th. This represents a dividend yield of 5.14%.

Institutional Investors Weigh In On Western Asset Investment Grade Defined Opportunity Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IGI. Stifel Financial Corp bought a new position in Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter worth about $163,000. Shaker Financial Services LLC bought a new position in shares of Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter worth approximately $201,000. Guggenheim Capital LLC increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 16.1% in the fourth quarter. Guggenheim Capital LLC now owns 54,965 shares of the company’s stock valued at $896,000 after purchasing an additional 7,624 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust during the fourth quarter worth approximately $1,722,000. Finally, Wells Fargo & Company MN increased its position in Western Asset Investment Grade Defined Opportunity Trust by 16.6% during the 4th quarter. Wells Fargo & Company MN now owns 82,775 shares of the company’s stock worth $1,350,000 after buying an additional 11,794 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Company Profile

Western Asset Investment Grade Defined Opportunity Trust Inc is a close-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd, Western Asset Management Company Ltd., and Western Asset Management Company Limited.