Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Up 472.4% in March

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 10,750 shares, an increase of 472.4% from the February 26th total of 1,878 shares. Based on an average daily trading volume, of 38,462 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 38,462 shares, the short-interest ratio is presently 0.3 days.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 58.3% during the 1st quarter. Comerica Bank now owns 1,900 shares of the company’s stock valued at $32,000 after purchasing an additional 700 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 3.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 30,485 shares of the company’s stock valued at $503,000 after buying an additional 1,000 shares in the last quarter. Arax Advisory Partners purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust during the fourth quarter valued at $38,000. Bank of America Corp DE raised its position in Western Asset Investment Grade Defined Opportunity Trust by 9.6% during the second quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock valued at $517,000 after buying an additional 2,730 shares during the period. Finally, Stifel Financial Corp raised its position in Western Asset Investment Grade Defined Opportunity Trust by 61.8% during the fourth quarter. Stifel Financial Corp now owns 16,530 shares of the company’s stock valued at $273,000 after buying an additional 6,312 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

IGI stock traded down $0.20 during mid-day trading on Tuesday, reaching $15.91. 5,204 shares of the stock traded hands, compared to its average volume of 19,384. Western Asset Investment Grade Defined Opportunity Trust has a 52-week low of $15.70 and a 52-week high of $17.09. The stock’s fifty day moving average is $16.39 and its 200-day moving average is $16.52.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a $0.071 dividend. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Thursday, May 21st.

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.