Inv Vk Tr Inv (NYSE:VGM) Shares Cross Above 50-Day Moving Average – What’s Next?

Inv Vk Tr Inv (NYSE:VGM)’s stock price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $9.34 and traded as high as $9.45. Inv Vk Tr Inv shares last traded at $9.4120, with a volume of 130,773 shares trading hands.

Inv Vk Tr Inv Trading Up 1.6%

The stock has a fifty day moving average price of $9.34 and a two-hundred day moving average price of $10.05.

Inv Vk Tr Inv Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.0646 per share. This is a decrease from Inv Vk Tr Inv’s previous monthly dividend of $0.0646. This represents a $0.78 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Monday, November 16th.

Hedge Funds Weigh In On Inv Vk Tr Inv

Several institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of Inv Vk Tr Inv by 1,445.1% in the third quarter. Allworth Financial LP now owns 10,692 shares of the investment management company’s stock worth $92,000 after purchasing an additional 10,000 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Inv Vk Tr Inv by 173.7% in the 3rd quarter. Fifth Third Bancorp now owns 14,700 shares of the investment management company’s stock valued at $127,000 after buying an additional 9,330 shares during the period. Vestor Capital LLC purchased a new position in shares of Inv Vk Tr Inv during the 3rd quarter valued at $303,000. Commonwealth Equity Services LLC lifted its stake in Inv Vk Tr Inv by 4.6% during the third quarter. Commonwealth Equity Services LLC now owns 215,024 shares of the investment management company’s stock worth $1,860,000 after purchasing an additional 9,472 shares during the last quarter. Finally, Abel Hall LLC bought a new stake in Inv Vk Tr Inv during the 3rd quarter valued at approximately $130,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

About Inv Vk Tr Inv

Invesco Trust for Investment Grade Municipals is a closed-end investment company listed on the New York Stock Exchange under the symbol VGM. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in investment-grade municipal securities.

The fund’s portfolio may include bonds issued by state and local governments, public authorities and other qualifying municipal entities across the United States. These securities generally finance public infrastructure and services such as schools, transportation systems, utilities and healthcare facilities.

VGM is managed by Invesco, a global investment management firm.