Invesco Trust for Investment Grade Municipals (NYSE:VGM) Sets New 1-Year High After Dividend Announcement

Shares of Invesco Trust for Investment Grade Municipals (NYSE:VGM) reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The company traded as high as $10.05 and last traded at $10.03, with a volume of 541510 shares traded. The stock had previously closed at $9.76.

The newly announced dividend which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.0646 per share. This represents a $0.78 annualized dividend and a dividend yield of 7.68%. This is a positive change from Invesco Trust for Investment Grade Municipals’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, June 18th.

Invesco Trust for Investment Grade Municipals Trading Up 3.5 %

The firm’s 50-day moving average is $9.72 and its two-hundred day moving average is $9.70.

Institutional Investors Weigh In On Invesco Trust for Investment Grade Municipals

Several institutional investors and hedge funds have recently modified their holdings of the business. Fiera Capital Corp acquired a new stake in shares of Invesco Trust for Investment Grade Municipals in the fourth quarter worth about $10,245,000. Karpus Management Inc. boosted its position in Invesco Trust for Investment Grade Municipals by 30.0% during the fourth quarter. Karpus Management Inc. now owns 3,199,553 shares of the investment management company’s stock worth $31,644,000 after purchasing an additional 738,008 shares during the period. Robinson Capital Management LLC grew its holdings in Invesco Trust for Investment Grade Municipals by 103.2% during the third quarter. Robinson Capital Management LLC now owns 451,610 shares of the investment management company’s stock valued at $3,857,000 after purchasing an additional 229,345 shares during the last quarter. AQR Arbitrage LLC lifted its stake in shares of Invesco Trust for Investment Grade Municipals by 97.4% in the third quarter. AQR Arbitrage LLC now owns 399,294 shares of the investment management company’s stock worth $3,394,000 after buying an additional 197,033 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Invesco Trust for Investment Grade Municipals by 358.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 246,388 shares of the investment management company’s stock worth $2,429,000 after buying an additional 192,598 shares during the period. Institutional investors and hedge funds own 38.13% of the company’s stock.

Invesco Trust for Investment Grade Municipals Company Profile

Invesco Trust for Investment Grade Municipals is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States.