Invvlu Mu Incm (NYSE:IIM) Hits New 52-Week Low – Here’s Why

Shares of Invvlu Mu Incm (NYSE:IIM) reached a new 52-week low on Wednesday . The company traded as low as $11.82 and last traded at $11.8310, with a volume of 12966 shares traded. The stock had previously closed at $11.91.

Invvlu Mu Incm Stock Down 1.3%

The firm’s fifty day moving average is $12.47 and its 200-day moving average is $12.46.

Invvlu Mu Incm Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 14th will be paid a $0.0771 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Monday, September 14th.

Hedge Funds Weigh In On Invvlu Mu Incm

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in shares of Invvlu Mu Incm during the second quarter valued at $9,075,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Invvlu Mu Incm by 63.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,162,995 shares of the investment management company’s stock worth $14,805,000 after acquiring an additional 450,450 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of Invvlu Mu Incm in the 1st quarter worth about $2,849,000. Retirement Planning Group LLC acquired a new position in Invvlu Mu Incm during the 1st quarter valued at about $554,000. Finally, Wagner Wealth Management LLC boosted its stake in Invvlu Mu Incm by 9.8% during the 1st quarter. Wagner Wealth Management LLC now owns 256,097 shares of the investment management company’s stock valued at $3,114,000 after purchasing an additional 22,921 shares during the period. 20.73% of the stock is currently owned by institutional investors and hedge funds.

Invvlu Mu Incm Company Profile

Invesco Value Municipal Income Trust (NYSE: IIM) is a closed-end investment fund managed by Invesco. The fund’s primary objective is to provide current income that is exempt from regular U.S. federal income tax.

The fund invests mainly in municipal securities issued by U.S. states, municipalities and related public entities. Its portfolio may include bonds that finance public infrastructure and other governmental or community projects, with investment results influenced by interest rates, credit conditions and developments in the municipal bond market.

Invesco Advisers, Inc, an affiliate of global investment management firm Invesco Ltd., serves as the fund’s investment adviser.