NewEdge Advisors LLC Has $3.34 Million Stock Holdings in Inv Vk Mun Tr $VKQ

Key Points

• NewEdge Advisors increased its VKQ position by 55.8% in the first quarter, purchasing 125,814 additional shares and bringing its holdings to 351,113 shares valued at approximately $3.34 million.
• Institutional investors and hedge funds own 32% of VKQ, with RiverNorth Capital Management holding the largest reported stake at roughly 5.77 million shares.
• VKQ recently declared a monthly dividend of $0.0628 per share, implying an annualized yield of about 7.7%; the fund primarily invests in municipal securities and seeks federally tax-exempt income.

NewEdge Advisors LLC increased its position in Inv Vk Mun Tr (NYSE:VKQ - Free Report) by 55.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 351,113 shares of the investment management company's stock after purchasing an additional 125,814 shares during the quarter. NewEdge Advisors LLC owned approximately 0.63% of Inv Vk Mun Tr worth $3,343,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rivernorth Capital Management LLC increased its position in Inv Vk Mun Tr by 31.8% during the fourth quarter. Rivernorth Capital Management LLC now owns 5,768,838 shares of the investment management company's stock worth $55,669,000 after buying an additional 1,390,317 shares during the last quarter. Guggenheim Capital LLC raised its stake in Inv Vk Mun Tr by 0.7% in the fourth quarter. Guggenheim Capital LLC now owns 1,199,525 shares of the investment management company's stock valued at $11,575,000 after buying an additional 8,278 shares during the period. LPL Financial LLC lifted its position in shares of Inv Vk Mun Tr by 15.7% in the fourth quarter. LPL Financial LLC now owns 960,745 shares of the investment management company's stock valued at $9,271,000 after buying an additional 130,288 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Inv Vk Mun Tr by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 443,647 shares of the investment management company's stock valued at $4,281,000 after buying an additional 13,561 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Inv Vk Mun Tr by 12.3% during the 4th quarter. Van ECK Associates Corp now owns 401,375 shares of the investment management company's stock worth $3,873,000 after acquiring an additional 43,972 shares during the period. 32.00% of the stock is currently owned by institutional investors and hedge funds.

Inv Vk Mun Tr Price Performance

VKQ stock opened at $9.85 on Thursday. Inv Vk Mun Tr has a 1-year low of $9.01 and a 1-year high of $10.11. The business's 50 day simple moving average is $9.88 and its 200 day simple moving average is $9.78.

Inv Vk Mun Tr Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.0628 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Monday, August 17th.

Inv Vk Mun Tr Profile

Invesco Municipal Income Trust NYSE: VKQ is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income tax. The fund pursues its objective by investing primarily in municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities, counties and territories. As a tax-advantaged vehicle, the trust offers investors access to the municipal bond market through a diversified portfolio managed by seasoned fixed income professionals.

The trust generally allocates at least 80% of its assets to investment-grade municipal securities, although it may invest in lower-rated obligations when deemed appropriate by its management team.

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