Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Short Interest Up 67.2% in July

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 6,991 shares, a growth of 67.2% from the June 30th total of 4,181 shares. Based on an average daily volume of 6,017 shares, the short-interest ratio is presently 1.2 days.

Western Asset Investment Grade Defined Opportunity Trust Price Performance

Shares of IGI remained flat at $15.67 during midday trading on Friday. The stock had a trading volume of 7,751 shares, compared to its average volume of 17,125. Western Asset Investment Grade Defined Opportunity Trust has a 1-year low of $15.56 and a 1-year high of $17.09. The stock’s 50-day moving average is $16.04 and its two-hundred day moving average is $16.19.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.071 per share. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

Hedge funds have recently made changes to their positions in the business. Comerica Bank boosted its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 58.3% in the first quarter. Comerica Bank now owns 1,900 shares of the company’s stock valued at $32,000 after purchasing an additional 700 shares during the period. Bank of America Corp DE boosted its position in Western Asset Investment Grade Defined Opportunity Trust by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 31,205 shares of the company’s stock valued at $517,000 after buying an additional 2,730 shares during the period. UBS Group AG boosted its position in Western Asset Investment Grade Defined Opportunity Trust by 7.6% in the 3rd quarter. UBS Group AG now owns 327,440 shares of the company’s stock valued at $5,465,000 after buying an additional 23,237 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 3.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,485 shares of the company’s stock worth $503,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Sit Investment Associates Inc. increased its position in shares of 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 acquiring an additional 297,365 shares during the period.

About Western Asset Investment Grade Defined Opportunity Trust

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.