Short Interest in IGM Financial Inc. (OTCMKTS:IGIFF) Drops By 11.1%

IGM Financial Inc. (OTCMKTS:IGIFF) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 607,800 shares, a drop of 11.1% from the November 30th total of 683,800 shares. Based on an average daily trading volume, of 18,000 shares, the days-to-cover ratio is presently 33.8 days.

IGM Financial Stock Down 0.4 %

Shares of OTCMKTS IGIFF opened at $31.96 on Wednesday. The business’s 50 day moving average is $32.31 and its two-hundred day moving average is $29.88. IGM Financial has a 12 month low of $22.81 and a 12 month high of $33.94.

IGM Financial Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 1st will be issued a $0.4057 dividend. This represents a dividend yield of 5.07%. The ex-dividend date of this dividend is Tuesday, December 31st. IGM Financial’s payout ratio is 67.85%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.