IGM Financial Inc. (OTCMKTS:IGIFF) Short Interest Up 13.8% in January

IGM Financial Inc. (OTCMKTS:IGIFF) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 691,700 shares, an increase of 13.8% from the December 31st total of 607,800 shares. Based on an average daily volume of 11,500 shares, the days-to-cover ratio is currently 60.1 days.

IGM Financial Price Performance

Shares of OTCMKTS IGIFF traded down $0.45 during mid-day trading on Monday, hitting $31.93. 18,715 shares of the company were exchanged, compared to its average volume of 5,728. The stock has a 50 day simple moving average of $32.26 and a 200-day simple moving average of $30.50. IGM Financial has a 1-year low of $22.81 and a 1-year high of $33.94.

IGM Financial Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 1st were given a $0.4057 dividend. This represents a yield of 5.07%. The ex-dividend date was Tuesday, December 31st. IGM Financial’s payout ratio is 67.85%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.