Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Up 26.8% in April

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 5,200 shares, an increase of 26.8% from the March 31st total of 4,100 shares. Based on an average daily volume of 24,500 shares, the short-interest ratio is presently 0.2 days.

Shares of NYSE IGI traded up $0.05 during trading hours on Tuesday, hitting $22.56. 10,072 shares of the stock were exchanged, compared to its average volume of 22,853. The firm has a fifty day moving average of $21.39. Western Asset Investment Grade Defined Opportunity Trust has a 1-year low of $19.40 and a 1-year high of $23.80.

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 21st will be given a dividend of $0.0665 per share. The ex-dividend date is Thursday, May 20th. This represents a $0.80 annualized dividend and a dividend yield of 3.54%.

Several hedge funds and other institutional investors have recently bought and sold shares of IGI. FNY Investment Advisers LLC acquired a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter worth approximately $41,000. Shaker Financial Services LLC acquired a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter worth approximately $215,000. Dynamic Advisor Solutions LLC boosted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 8.9% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 17,594 shares of the company’s stock worth $393,000 after acquiring an additional 1,440 shares in the last quarter. Citigroup Inc. boosted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 119.4% during the 4th quarter. Citigroup Inc. now owns 21,711 shares of the company’s stock worth $485,000 after acquiring an additional 11,817 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 15.0% during the 4th quarter. Wells Fargo & Company MN now owns 53,406 shares of the company’s stock worth $1,194,000 after acquiring an additional 6,969 shares in the last quarter.

About Western Asset Investment Grade Defined Opportunity Trust

Western Asset Investment Grade Defined Opportunity Trust Inc is a close-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd, Western Asset Management Company Ltd., and Western Asset Management Company Limited.

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