Invesco Bond Fund (VBF) Receives Buy Rating from Deutsche Bank AG
Deutsche Bank AG reaffirmed their buy rating on shares of Invesco Bond Fund (NYSE:VBF) in a research report sent to investors on Wednesday morning. The firm currently has a $36.00 target price on the stock, up from their previous target price of $35.00.
Several other research analysts also recently commented on the stock. Citigroup Inc. reissued a neutral rating and set a $27.00 price objective (down previously from $38.00) on shares of Invesco Bond Fund in a report on Monday, June 27th. Barclays PLC reaffirmed an overweight rating and issued a $35.00 price target (down previously from $37.00) on shares of Invesco Bond Fund in a report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $36.38.
Invesco Bond Fund (NYSE:VBF) traded down 0.527% on Wednesday, hitting $19.248. The company’s stock had a trading volume of 18,345 shares. Invesco Bond Fund has a 12 month low of $17.46 and a 12 month high of $19.54. The firm has a 50 day moving average of $19.32 and a 200 day moving average of $18.93.
The company also recently disclosed a monthly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be paid a $0.069 dividend. This represents a $0.83 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, October 12th.
A number of hedge funds have recently made changes to their positions in the company. Citigroup Inc. purchased a new stake in shares of Invesco Bond Fund during the second quarter valued at about $187,000. Gilman Hill Asset Management LLC increased its stake in shares of Invesco Bond Fund by 9.1% in the second quarter. Gilman Hill Asset Management LLC now owns 12,000 shares of the company’s stock valued at $227,000 after buying an additional 1,000 shares during the last quarter. Raymond James & Associates increased its stake in shares of Invesco Bond Fund by 11.8% in the second quarter. Raymond James & Associates now owns 18,982 shares of the company’s stock valued at $359,000 after buying an additional 2,000 shares during the last quarter. Laurion Capital Management LP purchased a new stake in shares of Invesco Bond Fund during the second quarter valued at about $475,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Invesco Bond Fund during the second quarter valued at about $536,000.
Invesco Bond Fund Company Profile
Invesco Bond Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to seek interest income while conserving capital. The Fund invests primarily in fixed-rate the United States investment-grade corporate bonds with flexibility to integrate approximately 20% of its total assets in non-investment-grade, the United States dollar denominated and non-United States dollar denominated securities of foreign issuers (both developed and emerging markets).
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