Inv Vk Mun Tr (NYSE:VKQ) Sees Significant Increase in Short Interest

Key Points

• Short interest in Inv Vk Mun Tr (NYSE:VKQ) jumped 126.6% in March to 201,540 shares (about 0.4% of shares), with a short-interest ratio of roughly 1.0 day based on average daily volume.
• The trust declared a monthly dividend of $0.0628 per share (ex‑dividend April 14, payable April 30), reflecting an approximate 7.7% yield.
• Large institutions have been buying: Rivernorth raised its stake to 5.77M shares, NewEdge and LPL substantially increased positions, and about 32% of the stock is owned by hedge funds and other institutional investors.

Inv Vk Mun Tr (NYSE:VKQ - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 201,540 shares, a growth of 126.6% from the March 15th total of 88,934 shares. Approximately 0.4% of the company's shares are sold short. Based on an average daily volume of 200,871 shares, the short-interest ratio is currently 1.0 days.

Inv Vk Mun Tr Price Performance

Inv Vk Mun Tr stock traded down $0.04 during trading hours on Friday, reaching $9.73. The stock had a trading volume of 115,829 shares, compared to its average volume of 204,180. Inv Vk Mun Tr has a 52 week low of $8.94 and a 52 week high of $9.99. The company has a fifty day simple moving average of $9.75 and a 200-day simple moving average of $9.69.

Inv Vk Mun Tr Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 14th will be given a dividend of $0.0628 per share. The ex-dividend date is Tuesday, April 14th. This represents a c) annualized dividend and a dividend yield of 7.7%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VKQ. Rivernorth Capital Management LLC lifted its position in Inv Vk Mun Tr by 31.8% during the 4th quarter. Rivernorth Capital Management LLC now owns 5,768,838 shares of the investment management company's stock valued at $55,669,000 after acquiring an additional 1,390,317 shares during the period. NewEdge Advisors LLC grew its stake in shares of Inv Vk Mun Tr by 159.2% in the fourth quarter. NewEdge Advisors LLC now owns 225,299 shares of the investment management company's stock worth $2,174,000 after acquiring an additional 138,365 shares during the period. LPL Financial LLC grew its position in Inv Vk Mun Tr by 15.7% during 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 period. Jones Financial Companies Lllp bought a new stake in Inv Vk Mun Tr during the first quarter valued at approximately $769,000. Finally, Raymond James Financial Inc. increased its stake in shares of Inv Vk Mun Tr by 53.6% in the second quarter. Raymond James Financial Inc. now owns 203,544 shares of the investment management company's stock worth $1,862,000 after purchasing an additional 71,026 shares in the last quarter. 32.00% of the stock is owned by hedge funds and other institutional investors.

About Inv Vk Mun Tr

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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