Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Update

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a significant growth in short interest during 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 trading volume of 24,316 shares, the days-to-cover ratio is currently 0.6 days.

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

Institutional investors have recently modified their holdings of the business. 1607 Capital Partners LLC increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 61.0% in the 3rd quarter. 1607 Capital Partners LLC now owns 325,361 shares of the company’s stock valued at $5,430,000 after acquiring an additional 123,261 shares during the period. Whipplewood Advisors LLC increased its holdings in shares of 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 acquiring an additional 1,046 shares during the period. UBS Group AG increased its holdings in shares of 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 acquiring an additional 23,237 shares during the period. Wells Fargo & Company MN increased its holdings in shares of 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 acquiring an additional 18,206 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock valued at $517,000 after acquiring an additional 2,730 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Stock Down 0.1%

IGI stock traded down $0.02 during midday trading on Wednesday, reaching $16.22. 4,785 shares of the company were exchanged, compared to its average volume of 19,007. The stock’s 50-day simple moving average is $16.11 and its 200 day simple moving average is $16.33. 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 firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a $0.071 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, August 24th.

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.