Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Update

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a large growth in short interest in 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 trading volume of 14,800 shares, the days-to-cover ratio is presently 0.2 days.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

Shares of IGI traded down $0.06 during trading hours on Thursday, hitting $16.50. The stock had a trading volume of 2,806 shares, compared to its average volume of 19,574. Western Asset Investment Grade Defined Opportunity Trust has a 1-year low of $16.09 and a 1-year high of $18.30. The firm has a 50 day simple moving average of $16.61 and a 200-day simple moving average of $16.86.

Western Asset Investment Grade Defined Opportunity Trust Increases Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a dividend of $0.071 per share. This represents a yield of 5.14%. This is an increase from Western Asset Investment Grade Defined Opportunity Trust’s previous dividend of $0.07. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

A number of hedge funds have recently bought and sold shares of IGI. Jones Financial Companies Lllp increased its position in shares of 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 valued at $35,000 after buying an additional 2,000 shares during the period. Stifel Financial Corp purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust in the fourth quarter worth $163,000. Melfa Wealth Management Inc. purchased a new stake in Western Asset Investment Grade Defined Opportunity Trust in the 4th quarter worth approximately $170,000. Quarry LP purchased a new position in shares of Western Asset Investment Grade Defined Opportunity Trust during the third quarter valued at about $212,000. Finally, Shaker Financial Services LLC bought a new position in Western Asset Investment Grade Defined Opportunity Trust in the fourth quarter worth $201,000.

About Western Asset Investment Grade Defined Opportunity Trust

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.