LPL Financial LLC Has $5.23 Million Stake in INV VK MUN TR (NYSE:VKQ)

Key Points

• LPL Financial LLC increased its holdings in INV VK MUN TR (NYSE:VKQ) by 23.6% in the first quarter, acquiring an additional 103,374 shares, bringing its total to 542,278 shares valued at approximately $5.23 million.
• In the most recent quarter, 32.00% of INV VK MUN TR’s stock was owned by institutional investors, with multiple firms like First Trust Advisors LP and Sowell Financial Services LLC increasing their stakes.
• INV VK MUN TR announced a monthly dividend of $0.0628 per share, which translates to an annualized yield of 8.2%, to be paid on August 29th.

LPL Financial LLC lifted its holdings in shares of INV VK MUN TR (NYSE:VKQ - Free Report) by 23.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 542,278 shares of the investment management company's stock after purchasing an additional 103,374 shares during the period. LPL Financial LLC owned 0.98% of INV VK MUN TR worth $5,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of INV VK MUN TR by 11.3% in the fourth quarter. First Trust Advisors LP now owns 11,995 shares of the investment management company's stock valued at $118,000 after buying an additional 1,216 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of INV VK MUN TR during the first quarter valued at $135,000. Private Advisor Group LLC acquired a new position in shares of INV VK MUN TR during the first quarter valued at $140,000. Nomura Holdings Inc. acquired a new position in shares of INV VK MUN TR during the fourth quarter valued at $166,000. Finally, XTX Topco Ltd acquired a new position in shares of INV VK MUN TR during the fourth quarter valued at $176,000. 32.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Portfolio Manager Timothy M. O'reilly purchased 5,400 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average price of $9.19 per share, with a total value of $49,626.00. Following the completion of the purchase, the portfolio manager directly owned 5,400 shares of the company's stock, valued at $49,626. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.37% of the stock is owned by company insiders.

INV VK MUN TR Trading Down 0.2%

Shares of VKQ traded down $0.02 during trading hours on Friday, hitting $9.19. 144,274 shares of the stock traded hands, compared to its average volume of 150,900. INV VK MUN TR has a 1-year low of $8.86 and a 1-year high of $10.47. The business has a fifty day moving average of $9.13 and a 200-day moving average of $9.40.

INV VK MUN TR Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.0628 per share. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend is Monday, August 18th.

INV VK MUN TR Company Profile

Invesco Municipal 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 Hong Kong Limited, INVESCO Senior Secured Management, Inc, and Invesco Canada Ltd.