Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Sees Large Growth in Short Interest

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,700 shares, an increase of 800.0% from the September 30th total of 300 shares. Based on an average daily trading volume, of 23,600 shares, the short-interest ratio is currently 0.1 days.

Western Asset Investment Grade Defined Opportunity Trust Stock Up 0.2 %

IGI stock traded up $0.03 during midday trading on Friday, hitting $16.95. The stock had a trading volume of 28,792 shares, compared to its average volume of 24,973. Western Asset Investment Grade Defined Opportunity Trust has a 52 week low of $15.15 and a 52 week high of $18.30. The stock has a 50-day simple moving average of $17.67 and a 200 day simple moving average of $17.27.

Western Asset Investment Grade Defined Opportunity Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.071 per share. This represents a $0.85 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, November 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. increased its position in Western Asset Investment Grade Defined Opportunity Trust by 67.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 73,607 shares of the company’s stock worth $1,257,000 after purchasing an additional 29,585 shares during the period. Almitas Capital LLC acquired a new stake in shares of Western Asset Investment Grade Defined Opportunity Trust in the 2nd quarter valued at approximately $3,575,000. Oak Harbor Wealth Partners LLC increased its stake in Western Asset Investment Grade Defined Opportunity Trust by 4.6% in the second quarter. Oak Harbor Wealth Partners LLC now owns 16,900 shares of the company’s stock valued at $289,000 after purchasing an additional 745 shares in the last quarter. Hara Capital LLC raised its stake in Western Asset Investment Grade Defined Opportunity Trust by 20.4% during the 2nd quarter. Hara Capital LLC now owns 204,560 shares of the company’s stock worth $3,494,000 after buying an additional 34,665 shares during the period. Finally, Karpus Management Inc. raised its position in shares of Western Asset Investment Grade Defined Opportunity Trust by 2,727.4% during the first quarter. Karpus Management Inc. now owns 560,906 shares of the company’s stock worth $9,698,000 after purchasing an additional 541,068 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.