INV VK HI INC2 (NYSE:VLT) Stock Price Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• INV VK HI INC2 (NYSE:VLT) has fallen below its 50-day moving average of $11.20, recently trading at $11.08.
• The company announced a monthly dividend of $0.094 to be paid on October 31st, representing a 10.2% yield.
• Hedge funds and large investors are showing interest, with 21.63% of the stock owned by institutional investors, indicating potential confidence in the company.

INV VK HI INC2 (NYSE:VLT - ) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.20 and traded as low as $11.05. INV VK HI INC2 shares last traded at $11.08, with a volume of 23,881 shares changing hands.

INV VK HI INC2 Trading Up 0.3%

The company has a fifty day moving average of $11.20 and a two-hundred day moving average of $10.84.

INV VK HI INC2 Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be paid a $0.094 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a c) annualized dividend and a dividend yield of 10.2%.

Hedge Funds Weigh In On INV VK HI INC2

Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in INV VK HI INC2 by 1.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 73,616 shares of the financial services provider's stock worth $780,000 after purchasing an additional 1,275 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of INV VK HI INC2 during the second quarter valued at approximately $26,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of INV VK HI INC2 during the second quarter valued at approximately $121,000. Wolverine Asset Management LLC bought a new position in shares of INV VK HI INC2 during the first quarter valued at approximately $195,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of INV VK HI INC2 in the second quarter worth approximately $710,000. 21.63% of the stock is owned by hedge funds and other institutional investors.

About INV VK HI INC2

Invesco High Income Trust II 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.

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