Bank of America Corp DE Makes New $1.92 Million Investment in Inv Vk Ca Valu $VCV

Key Points

• Bank of America acquired a new 177,619-share stake in Invesco California Value Municipal Income Trust, valued at approximately $1.92 million and representing about 0.36% of the fund.
• Several other institutional investors increased or initiated positions in VCV during recent quarters; institutional and hedge-fund ownership totals 18.8%.
• VCV shares opened at $8.99, near their one-year low, while the fund continues to pay a monthly $0.0646 dividend, equating to an annualized yield of approximately 8.6%.

Bank of America Corp DE bought a new stake in shares of Inv Vk Ca Valu (NYSE:VCV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 177,619 shares of the investment management company's stock, valued at approximately $1,917,000. Bank of America Corp DE owned approximately 0.36% of Inv Vk Ca Valu at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Inv Vk Ca Valu by 21.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 570,385 shares of the investment management company's stock valued at $6,154,000 after buying an additional 99,089 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Inv Vk Ca Valu in the second quarter valued at $654,000. Argyle Capital Partners LLC grew its holdings in Inv Vk Ca Valu by 12.1% during the 4th quarter. Argyle Capital Partners LLC now owns 46,364 shares of the investment management company's stock valued at $516,000 after purchasing an additional 5,000 shares in the last quarter. Western Wealth Management LLC acquired a new position in shares of Inv Vk Ca Valu in the second quarter worth about $485,000. Finally, Royal Bank of Canada boosted its holdings in Inv Vk Ca Valu by 24.8% in the first quarter. Royal Bank of Canada now owns 34,335 shares of the investment management company's stock valued at $359,000 after purchasing an additional 6,822 shares during the last quarter. 18.80% of the stock is owned by hedge funds and other institutional investors.

Inv Vk Ca Valu Price Performance

Shares of VCV opened at $8.99 on Thursday. Inv Vk Ca Valu has a one year low of $8.80 and a one year high of $11.38. The stock has a 50-day moving average price of $10.19 and a 200 day moving average price of $10.49.

Inv Vk Ca Valu Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th were given a $0.0646 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date of this dividend was Monday, September 14th.

Inv Vk Ca Valu Profile

Invesco California Value Municipal Income Trust NYSE: VCV is a closed-end management investment company focused on California municipal bonds. The fund seeks to provide current income that is exempt from regular federal income tax and California state personal income tax, subject to applicable tax rules.

VCV invests primarily in investment-grade and other municipal securities issued by California state and local governments, public agencies, and related entities. These securities may finance public infrastructure and services, including schools, transportation, utilities, health care facilities, and other community projects.

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