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 drop in short interest in the month of April. As of April 30th, there was short interest totaling 591 shares, a drop of 78.1% from the April 15th total of 2,700 shares. Based on an average daily volume of 27,707 shares, the days-to-cover ratio is currently 0.0 days.

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

Hedge funds have recently modified their holdings of the stock. Comerica Bank lifted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 58.3% during the first quarter. Comerica Bank now owns 1,900 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares during the period. Arax Advisory Partners purchased a new position in Western Asset Investment Grade Defined Opportunity Trust in the fourth quarter worth $38,000. Stifel Financial Corp raised its position in 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 worth $273,000 after acquiring an additional 6,312 shares in the last quarter. Janney Montgomery Scott LLC raised its position in 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 worth $503,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Bank of America Corp DE raised its position in 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 worth $517,000 after acquiring an additional 2,730 shares in the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

Shares of NYSE IGI traded up $0.01 during mid-day trading on Wednesday, hitting $16.11. 12,266 shares of the company were exchanged, compared to its average volume of 19,671. The stock has a 50 day simple moving average of $16.14 and a 200-day simple moving average of $16.37. Western Asset Investment Grade Defined Opportunity Trust has a 1-year low of $15.78 and a 1-year high of $17.09.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

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