Hennion & Walsh Asset Management Inc. Increases Stock Position in Invesco Advantage Municipal Income Trust II $VKI

Key Points

• Hennion & Walsh Asset Management nearly doubled its VKI position in the second quarter, adding 490,553 shares to own 989,489 shares, or 2.23% of the fund valued at $9.38 million.
• Institutional ownership of Invesco Advantage Municipal Income Trust II stands at 27.52%, with several other investment firms also initiating or increasing positions.
• VKI recently traded at $9.02 and announced a monthly dividend of $0.0559 per share, representing an annualized yield of approximately 7.4%; the fund invests primarily in investment-grade municipal securities.

Hennion & Walsh Asset Management Inc. lifted its position in shares of Invesco Advantage Municipal Income Trust II (NYSEAMERICAN:VKI - Free Report) by 98.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 989,489 shares of the financial services provider's stock after purchasing an additional 490,553 shares during the period. Hennion & Walsh Asset Management Inc. owned 2.23% of Invesco Advantage Municipal Income Trust II worth $9,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VKI. Worth Asset Management LLC bought a new stake in Invesco Advantage Municipal Income Trust II in the 2nd quarter worth about $271,000. Cetera Investment Advisers lifted its position in shares of Invesco Advantage Municipal Income Trust II by 20.4% during the 1st quarter. Cetera Investment Advisers now owns 35,844 shares of the financial services provider's stock worth $310,000 after buying an additional 6,068 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Invesco Advantage Municipal Income Trust II by 334.8% in the 1st quarter. Kestra Advisory Services LLC now owns 24,492 shares of the financial services provider's stock worth $212,000 after buying an additional 18,859 shares during the last quarter. Wealth Care LLC bought a new position in shares of Invesco Advantage Municipal Income Trust II in the first quarter valued at approximately $433,000. Finally, Madison Park Capital Advisors LLC increased its position in shares of Invesco Advantage Municipal Income Trust II by 8.3% during the first quarter. Madison Park Capital Advisors LLC now owns 45,662 shares of the financial services provider's stock valued at $395,000 after acquiring an additional 3,508 shares during the last quarter. 27.52% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Advantage Municipal Income Trust II Price Performance

VKI stock opened at $9.02 on Friday. The stock's fifty day simple moving average is $9.17 and its two-hundred day simple moving average is $9.05. Invesco Advantage Municipal Income Trust II has a 1-year low of $8.25 and a 1-year high of $9.60.

Invesco Advantage Municipal Income Trust II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.0559 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 7.4%.

Invesco Advantage Municipal Income Trust II Company Profile

Invesco Advantage Municipal Income Trust II NYSEAMERICAN: VKI is a closed-end management investment company that primarily seeks to provide shareholders with high after-tax total return. The fund pursues its objective by investing predominantly in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities and other political subdivisions.

The fund's investment strategy emphasizes credit quality and income generation, with portfolio managers conducting in-depth credit analysis to identify opportunities across various sectors—such as transportation, education and healthcare—that offer attractive tax-exempt yields.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source