Sit Investment Associates Inc. Sells 149,320 Shares of INV VK MUN TR (NYSE:VKQ)

Key Points

• Sit Investment Associates Inc. sold 149,320 shares of INV VK MUN TR, reducing its stake by 8.5%, and now holds approximately 1,604,818 shares valued at $15,486,000.
• Several institutional investors, including Guggenheim Capital LLC and Pathstone Holdings LLC, increased their holdings in INV VK MUN TR during the 4th quarter, demonstrating strong institutional interest in the stock.
• INV VK MUN TR announced a monthly dividend of $0.0628 per share, representing an annualized dividend yield of 8.2%, with the dividend payable on August 29th.

Sit Investment Associates Inc. lessened its stake in INV VK MUN TR (NYSE:VKQ - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,604,818 shares of the investment management company's stock after selling 149,320 shares during the quarter. Sit Investment Associates Inc. owned 2.90% of INV VK MUN TR worth $15,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. US Bancorp DE purchased a new position in shares of INV VK MUN TR in the 1st quarter worth about $26,000. AlphaCore Capital LLC purchased a new position in shares of INV VK MUN TR in the 1st quarter worth about $101,000. First Trust Advisors LP raised its position in shares of INV VK MUN TR by 11.3% in the 4th quarter. First Trust Advisors LP now owns 11,995 shares of the investment management company's stock worth $118,000 after purchasing an additional 1,216 shares during the last quarter. Sowell Financial Services LLC purchased a new position in INV VK MUN TR in the 1st quarter worth about $135,000. Finally, Private Advisor Group LLC purchased a new position in INV VK MUN TR in the 1st quarter worth about $140,000. Hedge funds and other institutional investors own 32.00% of the company's stock.

Insiders Place Their Bets

In other INV VK MUN TR news, Portfolio Manager Timothy M. O'reilly bought 5,400 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average price of $9.19 per share, with a total value of $49,626.00. Following the transaction, the portfolio manager owned 5,400 shares in the company, valued at $49,626. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.37% of the company's stock.

INV VK MUN TR Price Performance

NYSE:VKQ traded down $0.02 during mid-day 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. INV VK MUN TR has a 12-month low of $8.86 and a 12-month high of $10.47. The firm's fifty day moving average price is $9.13 and its two-hundred day moving average price is $9.40.

INV VK MUN TR Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a $0.0628 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a c) dividend on an annualized basis and a yield of 8.2%.

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.