Invesco Municipal Trust (NYSE:VKQ) Reaches New 52-Week High Following Dividend Announcement

Invesco Municipal Trust (NYSE:VKQ)’s share price reached a new 52-week high on Friday after the company announced a dividend. The company traded as high as $9.81 and last traded at $9.78, with a volume of 65225 shares traded. The stock had previously closed at $9.61.

The newly announced dividend which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 18th will be issued a $0.0628 dividend. This represents a $0.75 annualized dividend and a dividend yield of 7.56%. This is a boost from Invesco Municipal Trust’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, June 18th.

Invesco Municipal Trust Stock Performance

The business has a 50-day moving average price of $9.48 and a 200-day moving average price of $9.42.

Institutional Trading of Invesco Municipal Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Fiera Capital Corp bought a new stake in shares of Invesco Municipal Trust in the 4th quarter valued at about $10,036,000. Karpus Management Inc. raised its stake in Invesco Municipal Trust by 30.3% in the first quarter. Karpus Management Inc. now owns 2,703,952 shares of the investment management company’s stock worth $26,228,000 after buying an additional 628,699 shares in the last quarter. Bramshill Investments LLC lifted its holdings in Invesco Municipal Trust by 14.6% during the third quarter. Bramshill Investments LLC now owns 2,163,163 shares of the investment management company’s stock worth $18,041,000 after buying an additional 276,014 shares during the period. Robinson Capital Management LLC boosted its position in Invesco Municipal Trust by 76.2% during the 4th quarter. Robinson Capital Management LLC now owns 514,960 shares of the investment management company’s stock valued at $4,902,000 after acquiring an additional 222,671 shares in the last quarter. Finally, AQR Arbitrage LLC increased its holdings in shares of Invesco Municipal Trust by 78.2% in the 3rd quarter. AQR Arbitrage LLC now owns 383,742 shares of the investment management company’s stock valued at $3,200,000 after acquiring an additional 168,368 shares during the period. 32.00% of the stock is owned by hedge funds and other institutional investors.

About Invesco Municipal Trust

Invesco Municipal Trust 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 Hong Kong Limited, INVESCO Senior Secured Management, Inc, and Invesco Canada Ltd.