Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Down 39.1% in May

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the target of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 8,757 shares, a decline of 39.1% from the May 14th total of 14,386 shares. Based on an average trading volume of 14,906 shares, the days-to-cover ratio is presently 0.6 days.

Western Asset Investment Grade Defined Opportunity Trust Stock Performance

NYSE:IGI traded up $0.09 during trading hours on Monday, reaching $16.14. The stock had a trading volume of 19,275 shares, compared to its average volume of 19,161. Western Asset Investment Grade Defined Opportunity Trust has a 52 week low of $15.78 and a 52 week high of $17.09. The company has a 50 day moving average price of $16.12 and a two-hundred day moving average price of $16.29.

Western Asset Investment Grade Defined Opportunity Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a dividend of $0.071 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Whipplewood Advisors LLC boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 1.7% during the first quarter. Whipplewood Advisors LLC now owns 61,234 shares of the company’s stock worth $985,000 after buying an additional 1,046 shares during the period. Sit Investment Associates Inc. boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 63.2% during the fourth quarter. Sit Investment Associates Inc. now owns 767,986 shares of the company’s stock worth $12,672,000 after buying an additional 297,365 shares during the period. 1607 Capital Partners LLC boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 16.9% during the fourth quarter. 1607 Capital Partners LLC now owns 380,260 shares of the company’s stock worth $6,274,000 after buying an additional 54,899 shares during the period. Arax Advisory Partners purchased a new position in Western Asset Investment Grade Defined Opportunity Trust during the fourth quarter worth $38,000. Finally, Stifel Financial Corp boosted its stake in Western Asset Investment Grade Defined Opportunity Trust by 61.8% during the fourth quarter. Stifel Financial Corp now owns 16,530 shares of the company’s stock worth $273,000 after buying an additional 6,312 shares during the period.

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.