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

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a significant increase in short interest during 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 days-to-cover ratio is presently 0.2 days.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

IGI stock traded up $0.09 during midday trading on Wednesday, hitting $17.10. 7,204 shares of the company’s stock were exchanged, compared to its average volume of 25,678. The business has a 50-day simple moving average of $16.94 and a two-hundred day simple moving average of $17.08. Western Asset Investment Grade Defined Opportunity Trust has a 1-year low of $15.13 and a 1-year high of $17.79.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 24th will be paid a dividend of $0.071 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.85 annualized dividend and a yield of 4.98%.

Institutional Investors Weigh In On Western Asset Investment Grade Defined Opportunity Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 1607 Capital Partners LLC grew its stake in shares of 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 valued at $23,827,000 after buying an additional 35,600 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 0.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 566,271 shares of the company’s stock valued at $9,955,000 after buying an additional 4,075 shares in the last quarter. Karpus Management Inc. grew its stake in shares of 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 valued at $9,698,000 after buying an additional 541,068 shares in the last quarter. Moloney Securities Asset Management LLC grew its stake in shares of 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 valued at $2,124,000 after buying an additional 8,658 shares in the last quarter. Finally, City of London Investment Management Co. Ltd. grew its stake in shares of 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 valued at $1,542,000 after buying an additional 49,044 shares in 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.