Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Up 2,334.2% in May

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 14,386 shares, an increase of 2,334.2% from the April 30th total of 591 shares. Based on an average daily volume of 24,316 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

Several hedge funds have recently added to or reduced their stakes in IGI. Sit Investment Associates Inc. boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 63.2% during the 4th quarter. Sit Investment Associates Inc. now owns 767,986 shares of the company’s stock valued at $12,672,000 after purchasing an additional 297,365 shares during the period. 1607 Capital Partners LLC boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 61.0% during the 3rd quarter. 1607 Capital Partners LLC now owns 325,361 shares of the company’s stock valued at $5,430,000 after purchasing an additional 123,261 shares during the period. UBS Group AG boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 7.6% during the 3rd 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. Wells Fargo & Company MN boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 31.6% during the 4th 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. Finally, Stifel Financial Corp boosted its stake in 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 valued at $273,000 after purchasing an additional 6,312 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

Shares of NYSE:IGI opened at $16.22 on Thursday. The business has a 50 day moving average price of $16.11 and a 200 day moving average price of $16.33. Western Asset Investment Grade Defined Opportunity Trust has a twelve month low of $15.78 and a twelve month high of $17.09.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The firm 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. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 5.3%.

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.