Short Interest in IGM Financial Inc. (OTCMKTS:IGIFF) Expands By 13.8%

IGM Financial Inc. (OTCMKTS:IGIFF) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 691,700 shares, a growth 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 Stock Performance

IGIFF traded down $0.45 on Monday, reaching $31.93. The company’s stock had a trading volume of 18,715 shares, compared to its average volume of 5,728. The stock has a 50 day moving average of $32.26 and a two-hundred day moving average of $30.50. IGM Financial has a fifty-two week low of $22.81 and a fifty-two week high of $33.94.

IGM Financial Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 1st were issued a $0.4057 dividend. This represents a dividend yield of 5.07%. The ex-dividend date of this dividend was Tuesday, December 31st. IGM Financial’s 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.