Short Interest in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Expands By 2,334.2%

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 14,386 shares, a growth of 2,334.2% from the April 30th total of 591 shares. Based on an average daily trading volume, of 24,316 shares, the days-to-cover ratio is currently 0.6 days.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sit Investment Associates Inc. raised its position in Western Asset Investment Grade Defined Opportunity Trust by 63.2% in the 4th quarter. Sit Investment Associates Inc. now owns 767,986 shares of the company’s stock valued at $12,672,000 after buying an additional 297,365 shares during the last quarter. 1607 Capital Partners LLC raised its position in Western Asset Investment Grade Defined Opportunity Trust by 16.9% in the 4th quarter. 1607 Capital Partners LLC now owns 380,260 shares of the company’s stock valued at $6,274,000 after buying an additional 54,899 shares during the last quarter. UBS Group AG raised its position in Western Asset Investment Grade Defined Opportunity Trust by 7.6% in the 3rd quarter. UBS Group AG now owns 327,440 shares of the company’s stock valued at $5,465,000 after buying an additional 23,237 shares during the last quarter. Wells Fargo & Company MN raised its position in Western Asset Investment Grade Defined Opportunity Trust by 31.6% in the 4th quarter. Wells Fargo & Company MN now owns 75,892 shares of the company’s stock valued at $1,252,000 after buying an additional 18,206 shares during the last quarter. Finally, Whipplewood Advisors LLC raised its position in Western Asset Investment Grade Defined Opportunity Trust by 1.7% in the 1st quarter. Whipplewood Advisors LLC now owns 61,234 shares of the company’s stock valued at $985,000 after buying an additional 1,046 shares during the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Trading Down 0.3%

NYSE:IGI traded down $0.05 during mid-day trading on Friday, hitting $16.20. The company had a trading volume of 14,663 shares, compared to its average volume of 18,953. The business’s fifty day moving average is $16.11 and its two-hundred day moving average is $16.32. Western Asset Investment Grade Defined Opportunity Trust has a fifty-two week low of $15.78 and a fifty-two week high of $17.09.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.071 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis 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.