Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Up 67.2% in July

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 6,991 shares, an increase of 67.2% from the June 30th total of 4,181 shares. Based on an average daily volume of 6,017 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Comerica Bank increased its position in shares of 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 purchasing an additional 700 shares during the last quarter. Arax Advisory Partners purchased a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter worth $38,000. Stifel Financial Corp lifted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 61.8% during the 4th quarter. Stifel Financial Corp now owns 16,530 shares of the company’s stock worth $273,000 after purchasing an additional 6,312 shares during the last quarter. Janney Montgomery Scott LLC grew its stake 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 worth $503,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of 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 worth $517,000 after purchasing an additional 2,730 shares in the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

IGI stock remained flat at $15.67 during mid-day trading on Friday. The company’s stock had a trading volume of 7,751 shares, compared to its average volume of 17,125. The company has a fifty day moving average of $16.04 and a two-hundred day moving average of $16.19. Western Asset Investment Grade Defined Opportunity Trust has a 52 week low of $15.56 and a 52 week high of $17.09.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a dividend of $0.071 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Monday, August 24th.

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.