PNC Financial Services Group Inc. Has $673,000 Stock Holdings in INV VK MUN TR (NYSE:VKQ)

Key Points

• PNC Financial Services Group Inc. increased its stake in Inv Vk Mun Tr by 64.1%, acquiring an additional 27,264 shares, bringing its total ownership to approximately $673,000.
• Other institutional investors, including Guggenheim Capital LLC and Pathstone Holdings LLC, also raised their positions in Inv Vk Mun Tr, indicating a growing interest in the investment management company.
• Inv Vk Mun Tr announced a monthly dividend of $0.0628 per share to be paid on August 29th, representing an annual yield of 8.2%.

PNC Financial Services Group Inc. increased its position in INV VK MUN TR (NYSE:VKQ - Free Report) by 64.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,790 shares of the investment management company's stock after buying an additional 27,264 shares during the period. PNC Financial Services Group Inc. owned 0.13% of INV VK MUN TR worth $673,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE bought a new stake in shares of INV VK MUN TR in the first quarter valued at approximately $26,000. First Trust Advisors LP raised its stake in INV VK MUN TR by 11.3% during the fourth quarter. First Trust Advisors LP now owns 11,995 shares of the investment management company's stock worth $118,000 after acquiring an additional 1,216 shares in the last quarter. Sowell Financial Services LLC acquired a new position in INV VK MUN TR during the first quarter worth $135,000. Private Advisor Group LLC acquired a new position in INV VK MUN TR during the first quarter worth $140,000. Finally, Nomura Holdings Inc. bought a new position in shares of INV VK MUN TR in the fourth quarter valued at about $166,000. Institutional investors and hedge funds own 32.00% of the company's stock.

Insiders Place Their Bets

In other news, Portfolio Manager Timothy M. O'reilly acquired 5,400 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average cost of $9.19 per share, with a total value of $49,626.00. Following the acquisition, the portfolio manager owned 5,400 shares of the company's stock, valued at $49,626. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.37% of the company's stock.

INV VK MUN TR Stock Performance

Shares of INV VK MUN TR stock traded down $0.02 during trading on Friday, reaching $9.19. The company's stock had a trading volume of 144,274 shares, compared to its average volume of 150,900. The stock has a 50-day moving average price of $9.13 and a two-hundred day moving average price of $9.40. INV VK MUN TR has a one year low of $8.86 and a one year high of $10.47.

INV VK MUN TR Dividend Announcement

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

About INV VK MUN TR

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.