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

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,700 shares, a growth of 237.5% from the February 28th total of 800 shares. Based on an average daily trading volume, of 14,800 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

A number of institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in Western Asset Investment Grade Defined Opportunity Trust by 1,333.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,150 shares of the company’s stock worth $35,000 after purchasing an additional 2,000 shares during the last quarter. Stifel Financial Corp bought a new stake in Western Asset Investment Grade Defined Opportunity Trust during the fourth quarter worth about $163,000. Melfa Wealth Management Inc. acquired a new position in Western Asset Investment Grade Defined Opportunity Trust during the fourth quarter valued at approximately $170,000. Quarry LP bought a new position in Western Asset Investment Grade Defined Opportunity Trust in the third quarter valued at approximately $212,000. Finally, Shaker Financial Services LLC bought a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter worth approximately $201,000.

Western Asset Investment Grade Defined Opportunity Trust Stock Up 0.1 %

NYSE:IGI traded up $0.01 on Friday, reaching $16.51. The company’s stock had a trading volume of 16,034 shares, compared to its average volume of 19,552. Western Asset Investment Grade Defined Opportunity Trust has a 1-year low of $16.09 and a 1-year high of $18.30. The business’s 50-day moving average price is $16.61 and its two-hundred day moving average price is $16.84.

Western Asset Investment Grade Defined Opportunity Trust Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be issued a $0.071 dividend. This represents a dividend yield of 5.14%. The ex-dividend date is Monday, March 24th. This is a boost from Western Asset Investment Grade Defined Opportunity Trust’s previous dividend of $0.07.

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.