Invvlu Mu Incm (NYSE:IIM) Sets New 1-Year High – Still a Buy?

Shares of Invvlu Mu Incm (NYSE:IIM) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.16 and last traded at $13.1350, with a volume of 87203 shares changing hands. The stock had previously closed at $13.03.

Invvlu Mu Incm Stock Performance

The stock has a 50-day moving average of $12.60 and a 200 day moving average of $12.46.

Invvlu Mu Incm Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.0771 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IIM. Guggenheim Capital LLC grew its holdings in shares of Invvlu Mu Incm by 23.0% in the fourth quarter. Guggenheim Capital LLC now owns 1,119,319 shares of the investment management company’s stock valued at $13,790,000 after purchasing an additional 208,989 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Invvlu Mu Incm by 13.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 827,675 shares of the investment management company’s stock worth $10,387,000 after purchasing an additional 98,759 shares during the period. UBS Group AG boosted its holdings in Invvlu Mu Incm by 0.8% in the 4th quarter. UBS Group AG now owns 588,281 shares of the investment management company’s stock valued at $7,248,000 after purchasing an additional 4,652 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Invvlu Mu Incm by 2.0% in the 4th quarter. Van ECK Associates Corp now owns 240,665 shares of the investment management company’s stock valued at $2,965,000 after buying an additional 4,755 shares during the period. Finally, Wagner Wealth Management LLC grew its stake in shares of Invvlu Mu Incm by 79.5% in the 4th quarter. Wagner Wealth Management LLC now owns 233,176 shares of the investment management company’s stock valued at $2,873,000 after buying an additional 103,238 shares during the period. Institutional investors and hedge funds own 20.73% of the company’s stock.

Invvlu Mu Incm Company Profile

Invesco Value Municipal Income 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 Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations.