Inv Vk Mun Tr (NYSE:VKQ) Sets New 1-Year High – What’s Next?

Inv Vk Mun Tr (NYSE:VKQ)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $10.02 and last traded at $9.8910, with a volume of 603 shares changing hands. The stock had previously closed at $9.90.

Inv Vk Mun Tr Price Performance

The firm has a fifty day moving average of $9.72 and a 200 day moving average of $9.72.

Inv Vk Mun Tr Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.0628 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings in Inv Vk Mun Tr by 55.8% in the first quarter. NewEdge Advisors LLC now owns 351,113 shares of the investment management company’s stock worth $3,343,000 after purchasing an additional 125,814 shares during the last quarter. Bank of America Corp DE raised its stake in Inv Vk Mun Tr by 12.4% during the 1st quarter. Bank of America Corp DE now owns 228,050 shares of the investment management company’s stock valued at $2,171,000 after buying an additional 25,246 shares during the last quarter. Royal Bank of Canada raised its stake in Inv Vk Mun Tr by 10.2% during the 1st quarter. Royal Bank of Canada now owns 85,870 shares of the investment management company’s stock valued at $817,000 after buying an additional 7,972 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Inv Vk Mun Tr by 26.6% during the 1st quarter. Cetera Investment Advisers now owns 101,050 shares of the investment management company’s stock valued at $962,000 after buying an additional 21,227 shares during the period. Finally, World Investment Advisors lifted 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 valued at $260,000 after buying an additional 2,710 shares during the period. Institutional investors own 32.00% of the company’s stock.

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.