Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Sees Significant Increase in Short Interest

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

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Guggenheim Capital LLC boosted its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 37.9% in the second quarter. Guggenheim Capital LLC now owns 135,712 shares of the company’s stock valued at $2,250,000 after acquiring an additional 37,292 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Western Asset Investment Grade Defined Opportunity Trust during the second quarter worth about $379,000. 1607 Capital Partners LLC raised its holdings in Western Asset Investment Grade Defined Opportunity Trust by 61.0% during the third quarter. 1607 Capital Partners LLC now owns 325,361 shares of the company’s stock worth $5,430,000 after purchasing an additional 123,261 shares in the last quarter. UBS Group AG lifted its position in Western Asset Investment Grade Defined Opportunity Trust by 7.6% in the third quarter. UBS Group AG now owns 327,440 shares of the company’s stock valued at $5,465,000 after purchasing an additional 23,237 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Western Asset Investment Grade Defined Opportunity Trust by 31.6% in the fourth quarter. Wells Fargo & Company MN now owns 75,892 shares of the company’s stock valued at $1,252,000 after purchasing an additional 18,206 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

Shares of IGI stock traded down $0.11 during mid-day trading on Thursday, hitting $15.92. 17,689 shares of the stock were exchanged, compared to its average volume of 19,315. The stock’s fifty day simple moving average is $16.37 and its two-hundred day simple moving average is $16.51. Western Asset Investment Grade Defined Opportunity Trust has a 12-month low of $15.70 and a 12-month high of $17.09.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

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

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.