Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Down 39.1% in May

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 8,757 shares, a decrease of 39.1% from the May 14th total of 14,386 shares. Based on an average trading volume of 14,906 shares, the days-to-cover ratio is currently 0.6 days.

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

Several hedge funds have recently bought and sold shares of IGI. Comerica Bank grew its position in Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the 1st quarter. Comerica Bank now owns 1,900 shares of the company’s stock valued at $32,000 after acquiring an additional 700 shares during the last quarter. Arax Advisory Partners bought a new position in Western Asset Investment Grade Defined Opportunity Trust in the 4th quarter valued at $38,000. Stifel Financial Corp grew its position in Western Asset Investment Grade Defined Opportunity Trust by 61.8% in the 4th quarter. Stifel Financial Corp now owns 16,530 shares of the company’s stock valued at $273,000 after acquiring an additional 6,312 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Western Asset Investment Grade Defined Opportunity Trust by 3.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 30,485 shares of the company’s stock valued at $503,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Bank of America Corp DE grew its position in 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 last quarter.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

Western Asset Investment Grade Defined Opportunity Trust stock traded up $0.09 during mid-day trading on Monday, hitting $16.14. The company’s stock had a trading volume of 19,275 shares, compared to its average volume of 19,161. The company has a 50 day moving average of $16.12 and a 200-day moving average of $16.29. Western Asset Investment Grade Defined Opportunity Trust has a one year low of $15.78 and a one year high of $17.09.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a $0.071 dividend. This represents a c) annualized dividend and a 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.