Hennion & Walsh Asset Management Inc. Purchases 269,066 Shares of Inv Vk Tr Inv $VGM

Key Points

• Hennion & Walsh Asset Management increased its Inv Vk Tr Inv (NYSE: VGM) stake by 27.5% in the second quarter, purchasing 269,066 shares and bringing its holdings to 1.25 million shares worth approximately $13.2 million.
• Institutional investors collectively own 38.13% of VGM, with several firms—including Comerica Bank and Cornerstone Wealth Management—also expanding their positions.
• VGM recently declared a monthly $0.0646 dividend, representing an annualized yield of about 7.5%; shares opened at $10.40, near the upper end of their $9.48–$10.66 one-year range.

Hennion & Walsh Asset Management Inc. raised its position in shares of Inv Vk Tr Inv (NYSE:VGM - Free Report) by 27.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,247,281 shares of the investment management company's stock after buying an additional 269,066 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 2.30% of Inv Vk Tr Inv worth $13,221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp grew its position in shares of Inv Vk Tr Inv by 0.4% in the 4th quarter. Stifel Financial Corp now owns 245,207 shares of the investment management company's stock worth $2,543,000 after buying an additional 1,047 shares during the period. Compound Planning Inc. increased its stake in shares of Inv Vk Tr Inv by 7.0% in the 1st quarter. Compound Planning Inc. now owns 17,974 shares of the investment management company's stock worth $177,000 after acquiring an additional 1,178 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Inv Vk Tr Inv by 6.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,339 shares of the investment management company's stock valued at $273,000 after acquiring an additional 1,617 shares during the period. Cornerstone Wealth Management LLC lifted its position in Inv Vk Tr Inv by 13.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 17,165 shares of the investment management company's stock valued at $178,000 after acquiring an additional 2,076 shares during the period. Finally, Comerica Bank boosted its stake in Inv Vk Tr Inv by 85.2% during the fourth quarter. Comerica Bank now owns 5,370 shares of the investment management company's stock worth $56,000 after acquiring an additional 2,470 shares in the last quarter. Hedge funds and other institutional investors own 38.13% of the company's stock.

Inv Vk Tr Inv Price Performance

NYSE:VGM opened at $10.40 on Friday. Inv Vk Tr Inv has a one year low of $9.48 and a one year high of $10.66. The company's 50-day simple moving average is $10.34 and its 200 day simple moving average is $10.29.

Inv Vk Tr Inv Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a $0.0646 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Monday, August 17th.

About Inv Vk Tr Inv

Invesco Trust for Investment Grade Municipals 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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