Inv Vk Mun Tr (NYSE:VKQ) Hits New 12-Month High – Here’s Why

Inv Vk Mun Tr (NYSE:VKQ) shares reached a new 52-week high on Monday . The stock traded as high as $10.10 and last traded at $10.0910, with a volume of 118104 shares trading hands. The stock had previously closed at $10.07.

Inv Vk Mun Tr Stock Up 0.1%

The business’s fifty day simple moving average is $9.77 and its 200-day simple moving average is $9.74.

Inv Vk Mun Tr Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th will be issued a $0.0628 dividend. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Tuesday, July 14th.

Institutional Investors Weigh In On Inv Vk Mun Tr

A number of hedge funds have recently made changes to their positions in the company. Melfa Wealth Management Inc. boosted its stake in Inv Vk Mun Tr by 6.4% during the fourth quarter. Melfa Wealth Management Inc. now owns 33,542 shares of the investment management company’s stock valued at $324,000 after buying an additional 2,027 shares during the last quarter. Osaic Holdings Inc. increased its stake in Inv Vk Mun Tr by 16.9% in the 2nd quarter. Osaic Holdings Inc. now owns 14,206 shares of the investment management company’s stock worth $130,000 after acquiring an additional 2,051 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Inv Vk Mun Tr by 4.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 49,484 shares of the investment management company’s stock worth $478,000 after acquiring an additional 2,200 shares during the last quarter. Madison Park Capital Advisors LLC raised its holdings in shares of Inv Vk Mun Tr by 6.2% during the 1st quarter. Madison Park Capital Advisors LLC now owns 45,236 shares of the investment management company’s stock worth $431,000 after acquiring an additional 2,628 shares in the last quarter. Finally, World Investment Advisors raised its holdings in shares of Inv Vk Mun Tr by 11.0% during the 1st quarter. World Investment Advisors now owns 27,269 shares of the investment management company’s stock worth $260,000 after acquiring an additional 2,710 shares in the last quarter. 32.00% of the stock is currently owned by hedge funds and other institutional investors.

Inv Vk Mun Tr Company Profile

Invesco Municipal Income Trust (NYSE: VKQ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income tax. The fund pursues its objective by investing primarily in municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities, counties and territories. As a tax-advantaged vehicle, the trust offers investors access to the municipal bond market through a diversified portfolio managed by seasoned fixed income professionals.

The trust generally allocates at least 80% of its assets to investment-grade municipal securities, although it may invest in lower-rated obligations when deemed appropriate by its management team.