Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) to Issue Dividend Increase – $0.07 Per Share

Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) announced a monthly dividend on Friday, May 24th, Wall Street Journal reports. Stockholders of record on Tuesday, June 18th will be paid a dividend of 0.0685 per share by the investment management company on Friday, June 28th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend is Tuesday, June 18th. This is a positive change from Invesco Trust for Investment Grade New York Municipals’s previous monthly dividend of $0.04.

Invesco Trust for Investment Grade New York Municipals has decreased its dividend by an average of 9.9% per year over the last three years and has increased its dividend annually for the last 1 consecutive years.

Invesco Trust for Investment Grade New York Municipals Stock Performance

NYSE:VTN traded up $0.49 during midday trading on Friday, reaching $11.07. The stock had a trading volume of 247,658 shares, compared to its average volume of 39,691. Invesco Trust for Investment Grade New York Municipals has a 12-month low of $8.49 and a 12-month high of $11.09. The firm has a fifty day simple moving average of $10.61 and a two-hundred day simple moving average of $10.41.

Insider Activity at Invesco Trust for Investment Grade New York Municipals

In other news, major shareholder Saba Capital Management, L.P. acquired 3,373 shares of Invesco Trust for Investment Grade New York Municipals stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $10.66 per share, with a total value of $35,956.18. Following the completion of the purchase, the insider now owns 2,757,652 shares of the company’s stock, valued at approximately $29,396,570.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

About Invesco Trust for Investment Grade New York Municipals

Invesco Trust for Investment Grade New York Municipals 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 Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States.