Inv Vk Tr Inv (NYSE:VGM) Share Price Breaks Above 50-Day Moving Average – Here’s What Happened

Inv Vk Tr Inv (NYSE:VGM)’s share price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $9.34 and traded as high as $9.45. Inv Vk Tr Inv shares last traded at $9.4120, with a volume of 130,773 shares changing hands.

Inv Vk Tr Inv Price Performance

The company’s 50-day simple moving average is $9.34 and its 200 day simple moving average is $10.05.

Inv Vk Tr Inv Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a $0.0646 dividend. This is a drop from Inv Vk Tr Inv’s previous monthly dividend of $0.0646. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.2%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Inv Vk Tr Inv by 27.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,247,281 shares of the investment management company’s stock worth $13,221,000 after acquiring an additional 269,066 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Inv Vk Tr Inv by 96.2% in the 2nd quarter. NewEdge Advisors LLC now owns 136,864 shares of the investment management company’s stock valued at $1,451,000 after acquiring an additional 67,094 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Inv Vk Tr Inv by 46.0% in the 1st quarter. Cetera Investment Advisers now owns 187,141 shares of the investment management company’s stock worth $1,847,000 after purchasing an additional 58,961 shares in the last quarter. Melone Private Wealth LLC grew its stake in shares of Inv Vk Tr Inv by 33.6% in the second quarter. Melone Private Wealth LLC now owns 231,002 shares of the investment management company’s stock worth $2,449,000 after acquiring an additional 58,143 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new stake in Inv Vk Tr Inv during the 2nd quarter worth $530,000. 38.13% of the stock is owned by hedge funds and other institutional investors.

Inv Vk Tr Inv Company Profile

Invesco Trust for Investment Grade Municipals is a closed-end investment company listed on the New York Stock Exchange under the symbol VGM. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in investment-grade municipal securities.

The fund’s portfolio may include bonds issued by state and local governments, public authorities and other qualifying municipal entities across the United States. These securities generally finance public infrastructure and services such as schools, transportation systems, utilities and healthcare facilities.

VGM is managed by Invesco, a global investment management firm.