Inv Vk Mun Tr (NYSE:VKQ) Hits New 12-Month High – Here’s Why

Shares of Inv Vk Mun Tr (NYSE:VKQ) reached a new 52-week high on Monday . The company traded as high as $10.10 and last traded at $10.0910, with a volume of 118104 shares changing hands. The stock had previously closed at $10.07.

Inv Vk Mun Tr Price Performance

The firm’s 50-day moving average is $9.77 and its two-hundred day moving average is $9.74.

Inv Vk Mun Tr Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th will be paid a $0.0628 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Tuesday, July 14th.

Institutional Trading of Inv Vk Mun Tr

Several hedge funds have recently made changes to their positions in VKQ. Melfa Wealth Management Inc. lifted its holdings in shares of Inv Vk Mun Tr by 6.4% in the 4th quarter. Melfa Wealth Management Inc. now owns 33,542 shares of the investment management company’s stock valued at $324,000 after acquiring an additional 2,027 shares during the last quarter. Osaic Holdings Inc. grew its position in Inv Vk Mun Tr by 16.9% in the second 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 in the last quarter. Oppenheimer & Co. Inc. grew its position in Inv Vk Mun Tr by 4.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 49,484 shares of the investment management company’s stock worth $478,000 after acquiring an additional 2,200 shares in the last quarter. Madison Park Capital Advisors LLC increased its stake in Inv Vk Mun Tr by 6.2% during the first quarter. Madison Park Capital Advisors LLC now owns 45,236 shares of the investment management company’s stock worth $431,000 after acquiring an additional 2,628 shares during the last quarter. Finally, World Investment Advisors increased its stake in Inv Vk Mun Tr by 11.0% during the first quarter. World Investment Advisors now owns 27,269 shares of the investment management company’s stock worth $260,000 after acquiring an additional 2,710 shares during the last quarter. 32.00% of the stock is currently owned by hedge funds and other institutional investors.

About Inv Vk Mun Tr

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.