Inv Vk Mun Tr (NYSE:VKQ) Sets New 12-Month High – Still a Buy?

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

Inv Vk Mun Tr Stock Down 0.3%

The firm’s 50 day simple moving average is $9.79 and its 200 day simple moving average is $9.75.

Inv Vk Mun Tr Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th will be given a dividend of $0.0628 per share. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Tuesday, July 14th.

Institutional Investors Weigh In On Inv Vk Mun Tr

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC lifted its holdings in shares of Inv Vk Mun Tr by 31.8% in the fourth quarter. Rivernorth Capital Management LLC now owns 5,768,838 shares of the investment management company’s stock valued at $55,669,000 after buying an additional 1,390,317 shares during the period. NewEdge Advisors LLC grew its holdings in Inv Vk Mun Tr by 159.2% during the fourth quarter. NewEdge Advisors LLC now owns 225,299 shares of the investment management company’s stock worth $2,174,000 after acquiring an additional 138,365 shares during the period. LPL Financial LLC grew its holdings in Inv Vk Mun Tr by 15.7% during the fourth quarter. LPL Financial LLC now owns 960,745 shares of the investment management company’s stock worth $9,271,000 after acquiring an additional 130,288 shares during the period. Jones Financial Companies Lllp bought a new stake in Inv Vk Mun Tr in the first quarter worth about $769,000. Finally, Raymond James Financial Inc. raised its position in Inv Vk Mun Tr by 53.6% in the second quarter. Raymond James Financial Inc. now owns 203,544 shares of the investment management company’s stock worth $1,862,000 after acquiring an additional 71,026 shares in the last quarter. 32.00% of the stock is currently owned by 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.