Short Interest in IGM Financial Inc. (OTCMKTS:IGIFF) Drops By 5.5%

IGM Financial Inc. (OTCMKTS:IGIFF) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 687,800 shares, a drop of 5.5% from the January 15th total of 727,500 shares. Based on an average trading volume of 6,400 shares, the days-to-cover ratio is currently 107.5 days.

IGM Financial Stock Up 1.3 %

Shares of IGIFF opened at $31.95 on Wednesday. The stock has a 50 day moving average of $31.70 and a 200 day moving average of $30.73. IGM Financial has a 12 month low of $22.81 and a 12 month high of $33.94.

IGM Financial Cuts Dividend

The company also recently announced 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 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.