Inv Vk Mun Tr (NYSE:VKQ) Hits New 12-Month High – Should You Buy?

Inv Vk Mun Tr (NYSE:VKQ) reached a new 52-week high on Tuesday . The stock traded as high as $10.02 and last traded at $9.8910, with a volume of 603 shares trading hands. The stock had previously closed at $9.90.

Inv Vk Mun Tr Stock Up 0.2%

The stock’s fifty day simple moving average is $9.72 and its two-hundred day simple moving average is $9.72.

Inv Vk Mun Tr Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.0628 dividend. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Melfa Wealth Management Inc. grew its holdings in shares of Inv Vk Mun Tr by 6.4% during the fourth quarter. Melfa Wealth Management Inc. now owns 33,542 shares of the investment management company’s stock valued at $324,000 after buying an additional 2,027 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Inv Vk Mun Tr by 16.9% in the 2nd quarter. Osaic Holdings Inc. now owns 14,206 shares of the investment management company’s stock worth $130,000 after acquiring an additional 2,051 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Inv Vk Mun Tr by 4.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 49,484 shares of the investment management company’s stock valued at $478,000 after purchasing an additional 2,200 shares during the last quarter. Madison Park Capital Advisors LLC increased its holdings in shares of Inv Vk Mun Tr by 6.2% in the 1st quarter. Madison Park Capital Advisors LLC now owns 45,236 shares of the investment management company’s stock worth $431,000 after purchasing an additional 2,628 shares in the last quarter. Finally, World Investment Advisors increased its holdings in shares of Inv Vk Mun Tr by 11.0% in the 1st quarter. World Investment Advisors now owns 27,269 shares of the investment management company’s stock worth $260,000 after purchasing an additional 2,710 shares in the last quarter. 32.00% of the stock is owned by hedge funds and other institutional investors.

Inv Vk Mun Tr Company Profile

Invesco Municipal Income Trust (NYSE: VKQ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income tax. The fund pursues its objective by investing primarily in municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities, counties and territories. As a tax-advantaged vehicle, the trust offers investors access to the municipal bond market through a diversified portfolio managed by seasoned fixed income professionals.

The trust generally allocates at least 80% of its assets to investment-grade municipal securities, although it may invest in lower-rated obligations when deemed appropriate by its management team.