Invesco Bond Fund (VBF) Given Consensus Rating of “Buy” by Brokerages
Invesco Bond Fund (NYSE:VBF) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $36.38.
Several equities analysts have recently commented on the company. Citigroup Inc. reaffirmed a “neutral” rating and issued a $27.00 target price (down previously from $38.00) on shares of Invesco Bond Fund in a research report on Monday, June 27th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $34.00 target price (down previously from $35.00) on shares of Invesco Bond Fund in a research report on Friday, June 17th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $35.00 target price (down previously from $37.00) on shares of Invesco Bond Fund in a research report on Thursday, July 7th.
Invesco Bond Fund (NYSE:VBF) traded down 0.05% during midday trading on Friday, hitting $19.05. The stock had a trading volume of 30,972 shares. The company has a 50-day moving average of $19.29 and a 200-day moving average of $18.97. Invesco Bond Fund has a 1-year low of $17.46 and a 1-year high of $19.54.
The business also recently declared a monthly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be given a dividend of $0.069 per share. This represents a $0.83 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, October 12th.
A number of large investors have recently modified their holdings of VBF. Citigroup Inc. bought a new stake in shares of Invesco Bond Fund during the second quarter worth 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 worth $227,000 after buying an additional 1,000 shares in 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 worth $359,000 after buying an additional 2,000 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Invesco Bond Fund during the second quarter worth about $475,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Invesco Bond Fund during the second quarter worth 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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