Short Interest in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Drops By 51.8%

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the target of a significant drop in short interest in February. As of February 13th, there was short interest totaling 886 shares, a drop of 51.8% from the January 29th total of 1,838 shares. Based on an average daily trading volume, of 14,523 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 14,523 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Western Asset Investment Grade Defined Opportunity Trust

Several large investors have recently bought and sold shares of the company. Sit Investment Associates Inc. increased its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 63.2% in the fourth 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 period. 1607 Capital Partners LLC boosted its position in Western Asset Investment Grade Defined Opportunity Trust by 16.9% during the 4th quarter. 1607 Capital Partners LLC now owns 380,260 shares of the company’s stock worth $6,274,000 after buying an additional 54,899 shares during the period. UBS Group AG grew its holdings in Western Asset Investment Grade Defined Opportunity Trust by 7.6% during the 3rd quarter. UBS Group AG now owns 327,440 shares of the company’s stock worth $5,465,000 after acquiring an additional 23,237 shares during the last quarter. Guggenheim Capital LLC increased its position in Western Asset Investment Grade Defined Opportunity Trust by 37.9% in the 2nd quarter. Guggenheim Capital LLC now owns 135,712 shares of the company’s stock valued at $2,250,000 after acquiring an additional 37,292 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 31.6% during the fourth quarter. Wells Fargo & Company MN now owns 75,892 shares of the company’s stock valued at $1,252,000 after acquiring an additional 18,206 shares during the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Trading Up 0.1%

IGI stock opened at $16.47 on Friday. Western Asset Investment Grade Defined Opportunity Trust has a 1 year low of $15.70 and a 1 year high of $17.09. The company has a 50 day simple moving average of $16.50 and a 200 day simple moving average of $16.58.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The company also recently disclosed 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 5.2%.

About Western Asset Investment Grade Defined Opportunity Trust

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.