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

IGM Financial Inc. (OTCMKTS:IGIFF) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 691,700 shares, an increase 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 presently 60.1 days.

IGM Financial Stock Up 0.7 %

OTCMKTS IGIFF opened at $31.32 on Friday. IGM Financial has a 52 week low of $22.81 and a 52 week high of $33.94. The firm’s 50-day simple moving average is $32.46 and its two-hundred day simple moving average is $30.19.

IGM Financial Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 1st will be issued a $0.4057 dividend. This represents a dividend yield of 5.07%. The ex-dividend date is 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.