Inv Vk Mun Tr (NYSE:VKQ) Share Price Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• VKQ shares fell below their 200-day moving average of $9.78, reaching $9.70 before closing around $9.71, down 0.4%.
• The trust announced a monthly dividend of $0.0628 per share, representing an annualized yield of approximately 7.8%; shareholders of record on August 17 are eligible for payment on August 31.
• Institutional ownership stands at 32%, with several hedge funds and asset managers recently increasing their positions in VKQ.

Inv Vk Mun Tr (NYSE:VKQ - Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.78 and traded as low as $9.70. Inv Vk Mun Tr shares last traded at $9.71, with a volume of 136,213 shares.

Inv Vk Mun Tr Stock Down 0.4%

The firm has a 50 day simple moving average of $9.89 and a 200 day simple moving average of $9.78.

Inv Vk Mun Tr Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a $0.0628 dividend. The ex-dividend date is Monday, August 17th. This represents a c) annualized dividend and a yield of 7.8%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rivernorth Capital Management LLC raised its holdings 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 buying an additional 1,390,317 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Inv Vk Mun Tr by 236.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 940,068 shares of the investment management company's stock worth $9,438,000 after acquiring an additional 661,027 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Inv Vk Mun Tr by 159.2% in the 4th 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 last quarter. LPL Financial LLC increased its position in shares of Inv Vk Mun Tr by 15.7% in the fourth quarter. LPL Financial LLC now owns 960,745 shares of the investment management company's stock valued at $9,271,000 after acquiring an additional 130,288 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in shares of Inv Vk Mun Tr in the first quarter valued at about $769,000. 32.00% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.