Invvlu Mu Incm (NYSE:IIM) Reaches New 12-Month Low – Should You Sell?

Invvlu Mu Incm (NYSE:IIM)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $11.82 and last traded at $11.8310, with a volume of 12966 shares changing hands. The stock had previously closed at $11.91.

Invvlu Mu Incm Stock Down 1.3%

The company has a 50 day moving average price of $12.47 and a 200-day moving average price of $12.46.

Invvlu Mu Incm Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 14th will be paid a dividend of $0.0771 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Monday, September 14th.

Hedge Funds Weigh In On Invvlu Mu Incm

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fortitude Advisory Group L.L.C. lifted its position in shares of Invvlu Mu Incm by 7.2% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 28,520 shares of the investment management company’s stock worth $363,000 after purchasing an additional 1,920 shares during the last quarter. Hollencrest Capital Management increased its position in shares of Invvlu Mu Incm by 12.5% during the first quarter. Hollencrest Capital Management now owns 18,180 shares of the investment management company’s stock valued at $221,000 after purchasing an additional 2,013 shares during the period. Allworth Financial LP acquired a new position in shares of Invvlu Mu Incm in the 2nd quarter valued at $34,000. Concurrent Investment Advisors LLC raised its stake in shares of Invvlu Mu Incm by 24.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 30,431 shares of the investment management company’s stock valued at $387,000 after buying an additional 6,000 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Invvlu Mu Incm by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 269,300 shares of the investment management company’s stock worth $3,428,000 after acquiring an additional 7,307 shares during the period. Institutional investors own 20.73% of the company’s stock.

Invvlu Mu Incm Company Profile

Invesco Value Municipal Income Trust (NYSE: IIM) is a closed-end investment fund managed by Invesco. The fund’s primary objective is to provide current income that is exempt from regular U.S. federal income tax.

The fund invests mainly in municipal securities issued by U.S. states, municipalities and related public entities. Its portfolio may include bonds that finance public infrastructure and other governmental or community projects, with investment results influenced by interest rates, credit conditions and developments in the municipal bond market.

Invesco Advisers, Inc, an affiliate of global investment management firm Invesco Ltd., serves as the fund’s investment adviser.