Bank of America Corp DE Has $14.77 Million Position in Invvlu Mu Incm $IIM

Key Points

• Bank of America reduced its IIM stake by 28.1% in the first quarter, selling 473,614 shares and retaining 1.21 million shares valued at approximately $14.77 million.
• Institutional ownership of Invesco Value Municipal Income Trust stands at 20.73%, with several other investment firms modestly increasing their positions.
• IIM shares opened at $12.46, within a 52-week range of $11.57 to $13.17, while the fund announced a monthly dividend of $0.0771 per share, representing a 7.4% annualized yield.

Bank of America Corp DE lowered its stake in shares of Invvlu Mu Incm (NYSE:IIM - Free Report) by 28.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,214,485 shares of the investment management company's stock after selling 473,614 shares during the period. Bank of America Corp DE owned about 2.58% of Invvlu Mu Incm worth $14,768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IIM. Goldman Sachs Group Inc. grew its position in Invvlu Mu Incm by 4.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 24,713 shares of the investment management company's stock worth $304,000 after acquiring an additional 1,100 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Invvlu Mu Incm by 0.8% in the fourth quarter. Cetera Investment Advisers now owns 157,366 shares of the investment management company's stock worth $1,939,000 after purchasing an additional 1,211 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Invvlu Mu Incm by 11.0% in the fourth quarter. Cornerstone Wealth Management LLC now owns 17,906 shares of the investment management company's stock worth $221,000 after purchasing an additional 1,769 shares in the last quarter. Hollencrest Capital Management increased its position in Invvlu Mu Incm by 12.5% during the first quarter. Hollencrest Capital Management now owns 18,180 shares of the investment management company's stock worth $221,000 after buying an additional 2,013 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in Invvlu Mu Incm by 4.3% during the fourth quarter. D.A. Davidson & CO. now owns 72,538 shares of the investment management company's stock valued at $894,000 after buying an additional 3,000 shares in the last quarter. 20.73% of the stock is currently owned by hedge funds and other institutional investors.

Invvlu Mu Incm Stock Down 0.8%

Shares of NYSE:IIM opened at $12.46 on Friday. Invvlu Mu Incm has a fifty-two week low of $11.57 and a fifty-two week high of $13.17. The business has a 50-day moving average of $12.68 and a two-hundred day moving average of $12.54.

Invvlu Mu Incm Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.0771 dividend. The ex-dividend date is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 7.4%.

Invvlu Mu Incm Company Profile

Invesco Value Municipal Income Trust is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations.

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