Short Interest in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Drops By 80.5%

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a large drop in short interest in December. As of December 15th, there was short interest totaling 1,345 shares, a drop of 80.5% from the November 30th total of 6,896 shares. Based on an average trading volume of 30,605 shares, the short-interest ratio is presently 0.0 days. Based on an average trading volume of 30,605 shares, the short-interest ratio is presently 0.0 days.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

Shares of Western Asset Investment Grade Defined Opportunity Trust stock traded up $0.01 during trading on Friday, reaching $16.54. The company had a trading volume of 7,588 shares, compared to its average volume of 15,274. Western Asset Investment Grade Defined Opportunity Trust has a fifty-two week low of $15.70 and a fifty-two week high of $17.09. The firm’s fifty day moving average is $16.51 and its 200-day moving average is $16.57.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.071 per share. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, February 20th.

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

Several institutional investors and hedge funds have recently made changes to their positions in IGI. Comerica Bank increased its stake in Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the 1st quarter. Comerica Bank now owns 1,900 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares in the last quarter. 1607 Capital Partners LLC boosted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 47.5% in the first quarter. 1607 Capital Partners LLC now owns 137,000 shares of the company’s stock worth $2,271,000 after buying an additional 44,100 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust in the second quarter worth approximately $987,000. Shaker Financial Services LLC raised its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 118.0% during the second quarter. Shaker Financial Services LLC now owns 26,623 shares of the company’s stock valued at $443,000 after acquiring an additional 14,411 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust in the 2nd quarter valued at approximately $379,000.

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.