Invesco Municipal Trust (NYSE:VKQ) Sees Unusually-High Trading Volume After Dividend Announcement

Invesco Municipal Trust (NYSE:VKQ) shares saw an uptick in trading volume on Friday after the company announced a dividend. 330,204 shares traded hands during trading, an increase of 130% from the previous session’s volume of 143,420 shares.The stock last traded at $9.44 and had previously closed at $9.40.

The newly announced dividend which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.0391 per share. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Wednesday, May 15th.

Invesco Municipal Trust Price Performance

The company’s 50 day moving average price is $9.47 and its two-hundred day moving average price is $9.26.

Institutional Investors Weigh In On Invesco Municipal Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its stake in shares of Invesco Municipal Trust by 33.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 93,806 shares of the investment management company’s stock valued at $782,000 after purchasing an additional 23,271 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Invesco Municipal Trust by 54.2% in the 3rd quarter. Raymond James & Associates now owns 82,430 shares of the investment management company’s stock worth $687,000 after acquiring an additional 28,957 shares during the last quarter. Advisor Partners II LLC purchased a new position in shares of Invesco Municipal Trust during the 3rd quarter worth approximately $987,000. Hennion & Walsh Asset Management Inc. lifted its stake in Invesco Municipal Trust by 22.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 275,261 shares of the investment management company’s stock worth $2,296,000 after purchasing an additional 50,462 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Invesco Municipal Trust during the third quarter worth $86,000. 32.00% of the stock is currently owned by institutional investors and hedge funds.

Invesco Municipal Trust Company Profile

Invesco Municipal Trust is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Hong Kong Limited, INVESCO Senior Secured Management, Inc, and Invesco Canada Ltd.