Sit Investment Associates Inc. Sells 285,157 Shares of Inv Vk Tr Inv $VGM

Key Points

• Sit Investment Associates Inc. reduced its stake in Inv Vk Tr Inv by 12.5% during the first quarter, now holding approximately 3.69% of the company.
• Other institutional investors, including Pathstone Holdings LLC and Guggenheim Capital LLC, have increased their stakes significantly, reflecting a growing interest in the company.
• Inv Vk Tr Inv declared a monthly dividend of $0.0646, which equates to an annual yield of 8.0%, scheduled for payment on August 29th.

Sit Investment Associates Inc. lowered its holdings in shares of Inv Vk Tr Inv (NYSE:VGM - Free Report) by 12.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,001,609 shares of the investment management company's stock after selling 285,157 shares during the quarter. Sit Investment Associates Inc. owned about 3.69% of Inv Vk Tr Inv worth $19,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pathstone Holdings LLC raised its holdings in shares of Inv Vk Tr Inv by 45.6% during the 4th quarter. Pathstone Holdings LLC now owns 1,112,444 shares of the investment management company's stock valued at $11,247,000 after purchasing an additional 348,153 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of Inv Vk Tr Inv by 36.2% during the 4th quarter. Guggenheim Capital LLC now owns 729,804 shares of the investment management company's stock valued at $7,371,000 after purchasing an additional 193,954 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Inv Vk Tr Inv by 27.1% during the 1st quarter. LPL Financial LLC now owns 459,388 shares of the investment management company's stock valued at $4,576,000 after purchasing an additional 97,916 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Inv Vk Tr Inv by 57.4% during the 4th quarter. Bank of America Corp DE now owns 329,178 shares of the investment management company's stock valued at $3,325,000 after purchasing an additional 120,024 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Inv Vk Tr Inv by 7.1% during the 4th quarter. Ameriprise Financial Inc. now owns 300,727 shares of the investment management company's stock valued at $3,037,000 after purchasing an additional 20,054 shares in the last quarter. Institutional investors own 38.13% of the company's stock.

Inv Vk Tr Inv Stock Down 1.0%

Shares of Inv Vk Tr Inv stock traded down $0.09 during midday trading on Monday, reaching $9.59. 120,445 shares of the company's stock traded hands, compared to its average volume of 215,987. The company's 50 day simple moving average is $9.53 and its 200 day simple moving average is $9.73. Inv Vk Tr Inv has a 52 week low of $9.28 and a 52 week high of $10.70.

Inv Vk Tr Inv Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a $0.0646 dividend. This represents a c) annualized dividend and a yield of 8.1%. The ex-dividend date is Monday, August 18th.

Inv Vk Tr Inv Profile

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.