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

Key Points

• Short interest increased 23.6% in March to 88,934 shares (about 0.2% of shares short), leaving a short-interest ratio of just 0.5 days based on average daily volume.
• The company declared a monthly dividend of $0.0628 payable March 31 (record date March 16; ex-dividend March 16), implying an annualized yield of 8.0%.
• Shares traded at $9.39 (up $0.02) with intraday volume of 324,575 versus an average of ~187,315, and institutional investors own about 32% of the stock with several firms recently adding to their stakes.

Inv Vk Mun Tr (NYSE:VKQ - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 88,934 shares, an increase of 23.6% from the February 26th total of 71,954 shares. Currently, 0.2% of the company's shares are short sold. Based on an average daily trading volume, of 162,729 shares, the short-interest ratio is currently 0.5 days.

Inv Vk Mun Tr Trading Up 0.2%

NYSE VKQ traded up $0.02 during trading hours on Monday, reaching $9.39. The company had a trading volume of 324,575 shares, compared to its average volume of 187,315. The stock has a 50-day moving average of $9.75 and a 200 day moving average of $9.69. Inv Vk Mun Tr has a 1-year low of $8.86 and a 1-year high of $9.99.

Inv Vk Mun Tr Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.0628 dividend. This represents a c) annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Monday, March 16th.

Institutional Trading of Inv Vk Mun Tr

Several institutional investors have recently added to or reduced their stakes in the stock. StoneX Group Inc. purchased a new stake in shares of Inv Vk Mun Tr in the 2nd quarter valued at $496,000. Smith Moore & CO. boosted its holdings in Inv Vk Mun Tr by 59.4% during the 3rd quarter. Smith Moore & CO. now owns 165,652 shares of the investment management company's stock valued at $1,599,000 after acquiring an additional 61,742 shares during the period. Guggenheim Capital LLC boosted its holdings in Inv Vk Mun Tr by 3.1% during the 2nd quarter. Guggenheim Capital LLC now owns 1,201,076 shares of the investment management company's stock valued at $10,990,000 after acquiring an additional 36,134 shares during the period. Steward Partners Investment Advisory LLC grew its position in Inv Vk Mun Tr by 773.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 44,016 shares of the investment management company's stock valued at $403,000 after acquiring an additional 38,977 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in Inv Vk Mun Tr during the fourth quarter worth about $265,000. Institutional investors and hedge funds own 32.00% of the company's stock.

Inv Vk Mun Tr Company Profile

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.