Bank of America Corp DE Acquires New Shares in Invvlu Mu Incm $IIM

Key Points

• Bank of America acquired 712,866 shares of Invesco Value Municipal Income Trust during the second quarter, worth approximately $9.1 million and representing about 1.51% of the fund.
• Several other institutional investors increased or initiated positions, with hedge funds and other institutions collectively owning 20.73% of IIM.
• IIM opened at $10.99, near its 52-week low, while the fund announced a monthly dividend of $0.0771 per share, equivalent to an annualized yield of approximately 8.4%.

Bank of America Corp DE acquired a new position in shares of Invvlu Mu Incm (NYSE:IIM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 712,866 shares of the investment management company's stock, valued at approximately $9,075,000. Bank of America Corp DE owned about 1.51% of Invvlu Mu Incm as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its stake in 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 valued at $14,805,000 after buying an additional 450,450 shares in the last quarter. Retirement Planning Group LLC acquired a new position in shares of Invvlu Mu Incm in the first quarter worth $554,000. Arkadios Wealth Advisors acquired a new position in shares of Invvlu Mu Incm in the first quarter worth $2,849,000. Quantinno Capital Management LP purchased a new stake in shares of Invvlu Mu Incm in the first quarter valued at $150,000. Finally, Uniting Wealth Partners LLC purchased a new stake in shares of Invvlu Mu Incm in the second quarter valued at $177,000. 20.73% of the stock is currently owned by hedge funds and other institutional investors.

Invvlu Mu Incm Stock Down 0.6%

IIM opened at $10.99 on Friday. The business's fifty day simple moving average is $12.37 and its 200 day simple moving average is $12.43. Invvlu Mu Incm has a 52 week low of $10.97 and a 52 week high of $13.17.

Invvlu Mu Incm Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be issued a $0.0771 dividend. This represents a $0.93 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date is Monday, September 14th.

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.

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