Short Interest in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Expands By 7.1%

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 3,000 shares, an increase of 7.1% from the May 31st total of 2,800 shares. Based on an average trading volume of 18,700 shares, the short-interest ratio is currently 0.2 days.

Western Asset Investment Grade Defined Opportunity Trust Trading Up 0.5 %

NYSE IGI traded up $0.08 during trading hours on Tuesday, reaching $17.01. 11,750 shares of the company’s stock traded hands, compared to its average volume of 25,825. Western Asset Investment Grade Defined Opportunity Trust has a 52-week low of $15.13 and a 52-week high of $17.79. The firm has a 50-day simple moving average of $16.94 and a 200 day simple moving average of $17.08.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 24th will be issued a $0.071 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.85 annualized dividend and a yield of 5.01%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IGI. Karpus Management Inc. raised its holdings in Western Asset Investment Grade Defined Opportunity Trust by 2,727.4% in the first quarter. Karpus Management Inc. now owns 560,906 shares of the company’s stock worth $9,698,000 after buying an additional 541,068 shares during the last quarter. City of London Investment Management Co. Ltd. raised its holdings in Western Asset Investment Grade Defined Opportunity Trust by 126.8% in the fourth quarter. City of London Investment Management Co. Ltd. now owns 87,736 shares of the company’s stock worth $1,542,000 after buying an additional 49,044 shares during the last quarter. 1607 Capital Partners LLC raised its holdings in Western Asset Investment Grade Defined Opportunity Trust by 2.7% in the fourth quarter. 1607 Capital Partners LLC now owns 1,355,326 shares of the company’s stock worth $23,827,000 after buying an additional 35,600 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Western Asset Investment Grade Defined Opportunity Trust by 106.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 44,022 shares of the company’s stock worth $761,000 after buying an additional 22,722 shares during the last quarter. Finally, Moloney Securities Asset Management LLC raised its holdings in Western Asset Investment Grade Defined Opportunity Trust by 7.6% in the first quarter. Moloney Securities Asset Management LLC now owns 122,862 shares of the company’s stock worth $2,124,000 after buying an additional 8,658 shares during the last quarter.

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.