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

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 8,616 shares, an increase of 540.6% from the December 15th total of 1,345 shares. Based on an average trading volume of 23,442 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 23,442 shares, the days-to-cover ratio is currently 0.4 days.

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

A number of institutional investors and hedge funds have recently modified their holdings of IGI. Comerica Bank raised its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the first quarter. Comerica Bank now owns 1,900 shares of the company’s stock valued at $32,000 after acquiring an additional 700 shares in the last quarter. Bank of America Corp DE increased its position in Western Asset Investment Grade Defined Opportunity Trust by 9.6% during the 2nd quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock valued at $517,000 after purchasing an additional 2,730 shares during the period. Shaker Financial Services LLC increased its position in Western Asset Investment Grade Defined Opportunity Trust by 118.0% during the 2nd quarter. Shaker Financial Services LLC now owns 26,623 shares of the company’s stock valued at $443,000 after purchasing an additional 14,411 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust in the 2nd quarter worth approximately $379,000. Finally, UBS Group AG lifted its position 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 worth $5,465,000 after purchasing an additional 23,237 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

Shares of IGI stock traded up $0.05 during trading hours on Tuesday, reaching $16.47. 3,008 shares of the stock were exchanged, compared to its average volume of 20,126. Western Asset Investment Grade Defined Opportunity Trust has a 12-month low of $15.70 and a 12-month high of $17.09. The company’s 50-day moving average price is $16.45 and its 200-day moving average price is $16.58.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be given a dividend of $0.071 per share. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, February 20th.

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.