INV VK MUN TR (NYSE:VKQ) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• Inv Vk Mun Tr shares recently crossed above their fifty-day moving average, currently trading at $9.22, with a volume of 130,221 shares.
• The company has announced a monthly dividend of $0.0628 per share, resulting in an annualized yield of 8.2%, payable on August 29th to shareholders of record as of August 18th.
• Significant hedge fund activity includes a 73.3% increase in holdings by Prospera Financial Services Inc, indicating growing institutional interest in Inv Vk Mun Tr.

INV VK MUN TR (NYSE:VKQ - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.12 and traded as high as $9.24. INV VK MUN TR shares last traded at $9.22, with a volume of 130,221 shares trading hands.

INV VK MUN TR Trading Down 0.2%

The business has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $9.41.

INV VK MUN TR Announces Dividend

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

Insiders Place Their Bets

In other INV VK MUN TR news, Portfolio Manager Timothy M. O'reilly acquired 5,400 shares of the stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average price of $9.19 per share, for a total transaction of $49,626.00. Following the purchase, the portfolio manager directly owned 5,400 shares in the company, valued at $49,626. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On INV VK MUN TR

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in INV VK MUN TR by 10.4% during the 2nd quarter. Bank of America Corp DE now owns 158,856 shares of the investment management company's stock valued at $1,454,000 after purchasing an additional 14,905 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of INV VK MUN TR by 53.6% in the 2nd quarter. Raymond James Financial Inc. now owns 203,544 shares of the investment management company's stock worth $1,862,000 after acquiring an additional 71,026 shares in the last quarter. StoneX Group Inc. acquired a new position in shares of INV VK MUN TR in the 2nd quarter worth approximately $496,000. Guggenheim Capital LLC grew its position in shares of INV VK MUN TR by 3.1% in the 2nd quarter. Guggenheim Capital LLC now owns 1,201,076 shares of the investment management company's stock worth $10,990,000 after acquiring an additional 36,134 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of INV VK MUN TR by 11.5% in the 2nd quarter. Invesco Ltd. now owns 163,951 shares of the investment management company's stock worth $1,500,000 after acquiring an additional 16,904 shares in the last quarter. Institutional investors and hedge funds own 32.00% of the company's stock.

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.