Short Interest in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Declines By 29.9%

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totaling 7,541 shares, a drop of 29.9% from the March 15th total of 10,750 shares. Based on an average daily volume of 10,979 shares, the short-interest ratio is presently 0.7 days.

Western Asset Investment Grade Defined Opportunity Trust Trading Up 0.4%

NYSE:IGI opened at $16.26 on Tuesday. Western Asset Investment Grade Defined Opportunity Trust has a one year low of $15.78 and a one year high of $17.09. The stock has a 50-day simple moving average of $16.28 and a 200 day simple moving average of $16.44.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be paid a $0.071 dividend. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Thursday, May 21st.

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

A number of hedge funds have recently bought and sold shares of IGI. Comerica Bank grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the first quarter. Comerica Bank now owns 1,900 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares in the last quarter. Bank of America Corp DE grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 9.6% in the second quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock worth $517,000 after purchasing an additional 2,730 shares in the last quarter. UBS Group AG grew its stake in Western Asset Investment Grade Defined Opportunity Trust by 7.6% in the third quarter. UBS Group AG now owns 327,440 shares of the company’s stock worth $5,465,000 after purchasing an additional 23,237 shares in the last quarter. 1607 Capital Partners LLC lifted its holdings in Western Asset Investment Grade Defined Opportunity Trust by 61.0% in the third quarter. 1607 Capital Partners LLC now owns 325,361 shares of the company’s stock worth $5,430,000 after acquiring an additional 123,261 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings 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 acquiring an additional 1,000 shares during the last quarter.

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.