SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* WESTERN INVESTMENT LLC (Last) (First) (Middle) 7050 S. UNION PARK CENTER SUITE 590 (Street) MIDVALE UT 84047 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol MBIA CAPITAL/CLAYMORE MAN DUR INV GRD MUNI FUND [ MZF ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 07/21/2009
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001(1)	07/21/2009		P		3,313	A	$11.3739	26,141	I(2)	By Western Investment Activism Partners
Common Stock, par value $0.001(1)	07/22/2009		P		6,500	A	$11.3832	32,641	I(2)	By Western Investment Activism Partners
Common Stock, par value $0.001(1)								1,011	D
Common Stock, par value $0.001(1)								236,861	I(3)	By Western Investment Hedged Partners
Common Stock, par value $0.001(1)								236,623	I(4)	By Western Investment Total Return Fund
Common Stock, par value $0.001(1)								236,596	I(5)	By Western Investment Total Return Ptnrs

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* WESTERN INVESTMENT LLC (Last) (First) (Middle) 7050 S. UNION PARK CENTER SUITE 590 (Street) MIDVALE UT 84047 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Western Investment Hedged Partners L.P. (Last) (First) (Middle) 7050 S. UNION PARK CENTER SUITE 590 (Street) MIDVALE UT 84047 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Western Investment Activism Partners LLC (Last) (First) (Middle) 7050 S. UNION PARK CENTER SUITE 590 (Street) MIDVALE UT 84047 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Western Investment Total Return Partners L.P. (Last) (First) (Middle) 7050 S. UNION PARK CENTER SUITE 590 (Street) MIDVALE UT 84047 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Western Investment Total Return Fund Ltd. (Last) (First) (Middle) 7050 S. UNION PARK CENTER SUITE 590 (Street) MIDVALE UT 84047 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* LIPSON ARTHUR D (Last) (First) (Middle) 7050 S. UNION PARK CENTER SUITE 590 (Street) MIDVALE UT 84047 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Each of the Reporting Persons is a member of a Section 13(d) group with respect to the securities of the Issuer that beneficially owns in excess of 10% of the Issuer's outstanding Shares. As members of the group, each of the Reporting Persons may be deemed to beneficially own the securities of the Issuer beneficially owned by the other members of the group. The Reporting Persons disclaim beneficial ownership of the securities of the Issuer beneficially owned by the other members of the group except to the extent of his or its pecuniary interest therein.

2. Shares owned directly by Western Investment Activism Partners LLC ("WIAP"). As the managing member of WIAP, Western Investment LLC ("WILLC") may be deemed to beneficially own the Shares owned by WIAP. As the managing member of WILLC, Arthur D. Lipson may be deemed to beneficially own the Shares owned by WIAP. Mr. Lipson and WILLC disclaim beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.

3. Shares owned directly by Western Investment Hedged Partners L.P. ("WIHP"). As the general partner of WIHP, WILLC may be deemed to beneficially own the Shares owned by WIHP. As the managing member of WILLC, Mr. Lipson may be deemed to beneficially own the Shares owned by WIHP. Mr. Lipson and WILLC disclaim beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.

4. Shares owned directly by Western Investment Total Return Fund Ltd. ("WITRL"). As the investment manager of WITRL, WILLC may be deemed to beneficially own the Shares owned by WITRL. As the managing member of WILLC, Mr. Lipson may be deemed to beneficially own the Shares owned by WITRL. Mr. Lipson and WILLC disclaim beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.

5. Shares owned directly by Western Investment Total Return Partners L.P. ("WITRP"). As the general partner of WITRP, WILLC may be deemed to beneficially own the Shares owned by WITRP. As the managing member of WILLC, Mr. Lipson may be deemed to beneficially own the Shares owned by WITRP. Mr. Lipson and WILLC disclaim beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.

Remarks:

	By: Western Investment LLC, By: /s/ Arthur D. Lipson, Managing Member	07/23/2009
	By: Western Investment Hedged Partners L.P., By: Western Investment LLC, General Partner, By: /s/ Arthur D. Lipson, Managing Member	07/23/2009
	By: Western Investment Activism Partners LLC, By: Western Investment LLC, Managing Member, By: /s/ Arthur D. Lipson, Managing Member	07/23/2009
	By: Western Investment Total Return Partners L.P., By: Western Investment LLC, General Partner, By: /s/ Arthur D. Lipson, Managing Member	07/23/2009
	By: Western Investment Total Return Fund Ltd., By: Western Investment LLC, Investment Manager, By: /s/ Arthur D. Lipson, Managing Member	07/23/2009
	/s/ Lipson, Arthur D.	07/23/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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