IGM Financial Inc. (OTCMKTS:IGIFF) Short Interest Down 5.5% in January

IGM Financial Inc. (OTCMKTS:IGIFF) was the recipient of a large drop in short interest in 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 presently 107.5 days.

IGM Financial Stock Performance

OTCMKTS IGIFF opened at $31.53 on Tuesday. The company has a fifty day moving average of $31.70 and a two-hundred day moving average of $30.73. IGM Financial has a 1 year low of $22.81 and a 1 year high of $33.94.

IGM Financial Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 1st were paid a dividend of $0.4057 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a yield of 5.07%. IGM Financial’s dividend payout ratio is presently 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.