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

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the recipient of a large increase in short interest during 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 presently 1.2 days.

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

Several large investors have recently made changes to their positions in the business. Comerica Bank boosted its stake 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 in the last quarter. Janney Montgomery Scott LLC lifted its stake in Western Asset Investment Grade Defined Opportunity Trust by 3.4% in 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 during the last quarter. Whipplewood Advisors LLC lifted its stake in Western Asset Investment Grade Defined Opportunity Trust by 1.7% in the first quarter. Whipplewood Advisors LLC now owns 61,234 shares of the company’s stock worth $985,000 after purchasing an additional 1,046 shares during the last quarter. Arax Advisory Partners purchased a new stake in Western Asset Investment Grade Defined Opportunity Trust during the fourth quarter valued at about $38,000. Finally, Bank of America Corp DE boosted its position in 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 valued at $517,000 after buying an additional 2,730 shares during the period.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

IGI remained flat at $15.67 during trading on Friday. 7,751 shares of the company’s stock were exchanged, compared to its average volume of 17,125. Western Asset Investment Grade Defined Opportunity Trust has a 1 year low of $15.56 and a 1 year high of $17.09. The firm has a fifty day moving average of $16.03 and a 200 day moving average of $16.19.

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. Stockholders of record on Monday, August 24th will be issued a $0.071 dividend. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend 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.