Short Interest in Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Rises By 237.5%

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 2,700 shares, an increase of 237.5% from the February 28th total of 800 shares. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is presently 0.2 days.

Western Asset Investment Grade Defined Opportunity Trust Stock Up 0.1 %

Shares of Western Asset Investment Grade Defined Opportunity Trust stock opened at $16.51 on Friday. The company has a 50-day simple moving average of $16.61 and a two-hundred day simple moving average of $16.84. Western Asset Investment Grade Defined Opportunity Trust has a 52-week low of $16.09 and a 52-week high of $18.30.

Western Asset Investment Grade Defined Opportunity Trust Increases Dividend

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

Institutional Trading of Western Asset Investment Grade Defined Opportunity Trust

Several institutional investors have recently added to or reduced their stakes in IGI. Jones Financial Companies Lllp lifted its holdings 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 purchasing an additional 2,000 shares in the last quarter. Guggenheim Capital LLC raised its position in Western Asset Investment Grade Defined Opportunity Trust by 16.1% in the 4th quarter. Guggenheim Capital LLC now owns 54,965 shares of the company’s stock worth $896,000 after buying an additional 7,624 shares during the last quarter. Stifel Financial Corp bought a new position in Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter valued at about $163,000. Melfa Wealth Management Inc. purchased a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust during the 4th quarter valued at about $170,000. Finally, Wells Fargo & Company MN grew its stake in shares of Western Asset Investment Grade Defined Opportunity Trust by 16.6% in the fourth quarter. Wells Fargo & Company MN now owns 82,775 shares of the company’s stock worth $1,350,000 after acquiring an additional 11,794 shares during the period.

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.