IGM Financial Inc. (OTCMKTS:IGIFF) Sees Significant Increase in Short Interest

IGM Financial Inc. (OTCMKTS:IGIFF) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 691,700 shares, a growth of 13.8% from the December 15th 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 Stock Up 0.7 %

Shares of IGIFF opened at $31.32 on Friday. The firm’s 50 day simple moving average is $32.46 and its 200 day simple moving average is $30.19. IGM Financial has a 1-year low of $22.81 and a 1-year high of $33.94.

IGM Financial Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 1st will be paid a $0.4057 dividend. This represents a yield of 5.07%. The ex-dividend date of this dividend is Tuesday, December 31st. IGM Financial’s dividend payout ratio is currently 67.85%.

IGM Financial Company Profile

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.