Inv Vk Mun Tr (NYSE:VKQ) Short Interest Update

Key Points

• Short interest fell 17.3% to 71,954 shares as of Feb. 27, leaving a short-interest ratio of just 0.4 days and roughly 0.1% of the stock shorted.
• Institutional investors increased positions—Rivernorth Capital now holds 5,768,838 shares (+31.8%) and overall institutional ownership stands at about 32%.
• Inv Vk Mun Tr announced a monthly dividend of $0.0628 (ex-dividend March 16, payable March 31), implying an annualized yield of about 7.8%, with shares trading near $9.69.

Inv Vk Mun Tr (NYSE:VKQ - Get Free Report) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 71,954 shares, a drop of 17.3% from the February 12th total of 87,056 shares. Based on an average daily volume of 192,236 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the company's stock are short sold. Approximately 0.1% of the company's stock are short sold. Based on an average daily volume of 192,236 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Rivernorth Capital Management LLC lifted its stake in shares of Inv Vk Mun Tr by 31.8% in 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 purchasing an additional 1,390,317 shares during the last quarter. NewEdge Advisors LLC increased its position in Inv Vk Mun Tr by 159.2% during the fourth quarter. NewEdge Advisors LLC now owns 225,299 shares of the investment management company's stock worth $2,174,000 after buying an additional 138,365 shares during the last quarter. LPL Financial LLC increased 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 worth $9,271,000 after buying an additional 130,288 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Inv Vk Mun Tr during the first quarter valued at about $769,000. Finally, Raymond James Financial Inc. raised its holdings in Inv Vk Mun Tr by 53.6% during the second quarter. Raymond James Financial Inc. now owns 203,544 shares of the investment management company's stock valued at $1,862,000 after buying an additional 71,026 shares in the last quarter. Institutional investors and hedge funds own 32.00% of the company's stock.

Inv Vk Mun Tr Trading Down 0.5%

Shares of NYSE VKQ traded down $0.05 during trading hours on Monday, hitting $9.69. The stock had a trading volume of 156,483 shares, compared to its average volume of 187,838. The firm's 50-day moving average price is $9.81 and its two-hundred day moving average price is $9.67. Inv Vk Mun Tr has a 52 week low of $8.86 and a 52 week high of $9.99.

Inv Vk Mun Tr Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.0628 dividend. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 7.8%.

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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