Invesco Bond Fund (NYSE:VBF)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a research report issued on Wednesday. They presently have a $36.00 price target on the stock, up from their prior price target of $35.00. Deutsche Bank AG’s price objective would indicate a potential upside of 86.05% from the stock’s current price.
Several other brokerages have also recently commented on VBF. Barclays PLC reaffirmed an “overweight” rating and set a $35.00 price objective (down previously from $37.00) on shares of Invesco Bond Fund in a research note on Thursday, July 7th. Citigroup Inc. reaffirmed a “neutral” rating and set a $27.00 price objective (down previously from $38.00) on shares of Invesco Bond Fund in a research note on Monday, June 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.38.
Shares of Invesco Bond Fund (NYSE:VBF) traded down 0.26% during trading on Wednesday, reaching $19.31. 14,777 shares of the company’s stock traded hands. Invesco Bond Fund has a 52-week low of $17.46 and a 52-week high of $19.54. The company’s 50-day moving average is $19.32 and its 200 day moving average is $18.93.
The business also recently announced a monthly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be given a dividend of $0.069 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.83 annualized dividend and a yield of 4.28%.
Several large investors have recently made changes to their positions in VBF. Gilman Hill Asset Management LLC raised its stake in shares of Invesco Bond Fund by 9.1% in the second quarter. Gilman Hill Asset Management LLC now owns 12,000 shares of the company’s stock worth $227,000 after buying an additional 1,000 shares during the last quarter. SeaBridge Investment Advisors LLC raised its stake in shares of Invesco Bond Fund by 5.3% in the second quarter. SeaBridge Investment Advisors LLC now owns 81,470 shares of the company’s stock worth $1,539,000 after buying an additional 4,100 shares during the last quarter. Sit Investment Associates Inc. raised its stake in shares of Invesco Bond Fund by 12.4% in the second quarter. Sit Investment Associates Inc. now owns 300,385 shares of the company’s stock worth $5,674,000 after buying an additional 33,066 shares during the last quarter. Shaker Financial Services LLC acquired a new stake in shares of Invesco Bond Fund during the second quarter worth $718,000. Finally, Raymond James & Associates raised its stake in shares of Invesco Bond Fund by 11.8% in the second quarter. Raymond James & Associates now owns 18,982 shares of the company’s stock worth $359,000 after buying an additional 2,000 shares during the last quarter.
About Invesco Bond Fund
Invesco Bond Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to seek interest income while conserving capital. The Fund invests primarily in fixed-rate the United States investment-grade corporate bonds with flexibility to integrate approximately 20% of its total assets in non-investment-grade, the United States dollar denominated and non-United States dollar denominated securities of foreign issuers (both developed and emerging markets).
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