IGM Financial Inc. (OTCMKTS:IGIFF) Short Interest Update

IGM Financial Inc. (OTCMKTS:IGIFF) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 624,400 shares, an increase of 12.2% from the August 31st total of 556,400 shares. Based on an average daily volume of 500 shares, the short-interest ratio is presently 1,248.8 days.

IGM Financial Trading Up 1.4 %

IGIFF traded up $0.41 on Friday, reaching $30.42. 70 shares of the company traded hands, compared to its average volume of 10,590. The firm has a fifty day simple moving average of $28.44 and a two-hundred day simple moving average of $27.17. IGM Financial has a one year low of $22.14 and a one year high of $30.45.

IGM Financial Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.4091 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a yield of 5.55%. IGM Financial’s payout ratio is currently 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.