Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI – Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 6,754 shares, a decline of 66.8% from the October 15th total of 20,353 shares. Based on an average daily volume of 14,288 shares, the days-to-cover ratio is presently 0.5 days.
Western Asset Investment Grade Defined Opportunity Trust Stock Performance
NYSE:IGI traded up $0.11 during midday trading on Friday, hitting $15.37. 5,534 shares of the company traded hands, compared to its average volume of 16,100. The firm’s fifty day moving average is $15.51 and its 200-day moving average is $15.97. Western Asset Investment Grade Defined Opportunity Trust has a 12-month low of $15.08 and a 12-month high of $16.83.
Institutional Investors Weigh In On Western Asset Investment Grade Defined Opportunity Trust
Hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust during the 2nd quarter worth about $25,000. Bessemer Group Inc. purchased a new stake in Western Asset Investment Grade Defined Opportunity Trust in the 3rd quarter worth about $90,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Western Asset Investment Grade Defined Opportunity Trust by 226.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 108,376 shares of the company’s stock worth $1,746,000 after purchasing an additional 75,169 shares during the last quarter.
About Western Asset Investment Grade Defined Opportunity Trust
Western Asset Investment Grade Defined Opportunity Trust (NYSE: IGI) was a closed-end investment fund managed by Western Asset Management Company. The fund sought to provide current income and, secondarily, capital appreciation by investing primarily in investment-grade debt securities. Its portfolio could include corporate bonds, U.S. government and agency securities, mortgage-backed securities, asset-backed securities, municipal obligations, and other fixed-income investments. Western Asset used its credit research and fixed-income investment expertise to select securities across sectors and maturities, with an emphasis on investment-grade credit quality.
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