Invesco Bond Fund (VBF) Receives Hold Rating from Deutsche Bank AG
Deutsche Bank AG reiterated their hold rating on shares of Invesco Bond Fund (NYSE:VBF) in a research note issued to investors on Saturday. The firm currently has a $32.00 price target on the stock, down from their previous price target of $36.00.
VBF has been the subject of several other research reports. Citigroup Inc. restated a neutral rating and set a $27.00 price target (down previously from $38.00) on shares of Invesco Bond Fund in a report on Monday, June 27th. Barclays PLC restated an overweight rating and set a $35.00 price target (down previously from $37.00) on shares of Invesco Bond Fund in a report on Thursday, July 7th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $35.88.
Shares of Invesco Bond Fund (NYSE:VBF) traded down 0.05% during trading on Friday, hitting $19.05. The company had a trading volume of 43,180 shares. The stock’s 50-day moving average price is $19.29 and its 200 day moving average price is $18.97. Invesco Bond Fund has a 52 week low of $17.46 and a 52 week high of $19.54.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be issued a dividend of $0.069 per share. This represents a $0.83 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Wednesday, October 12th.
Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. acquired a new position in Invesco Bond Fund during the second quarter worth about $187,000. Gilman Hill Asset Management LLC boosted its position in 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 during the last quarter. Raymond James & Associates boosted its position in 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 during the last quarter. Laurion Capital Management LP acquired a new position in Invesco Bond Fund during the second quarter worth about $475,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Invesco Bond Fund during the second quarter worth about $536,000.
About Invesco Bond Fund
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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