Short Interest in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Declines By 70.0%

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 900 shares, a drop of 70.0% from the January 31st total of 3,000 shares. Based on an average daily volume of 16,900 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Western Asset Investment Grade Defined Opportunity Trust

Several institutional investors have recently added to or reduced their stakes in IGI. Jones Financial Companies Lllp lifted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,150 shares of the company’s stock valued at $35,000 after purchasing an additional 2,000 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust in the 4th quarter valued at approximately $163,000. Melfa Wealth Management Inc. bought a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust in the 4th quarter valued at approximately $170,000. Shaker Financial Services LLC bought a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust in the 4th quarter valued at approximately $201,000. Finally, Quarry LP bought a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust in the 3rd quarter valued at approximately $212,000.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

NYSE IGI traded up $0.05 during trading on Friday, hitting $16.72. 24,154 shares of the stock traded hands, compared to its average volume of 19,892. The firm has a 50-day simple moving average of $16.51 and a 200-day simple moving average of $17.01. Western Asset Investment Grade Defined Opportunity Trust has a 12-month low of $16.09 and a 12-month high of $18.30.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 24th will be issued a dividend of $0.071 per share. This represents a $0.85 annualized dividend and a yield of 5.09%. The ex-dividend date is Monday, March 24th.

Western Asset Investment Grade Defined Opportunity Trust Company Profile

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.