INV VK MUN TR (NYSE:VKQ) Shares Pass Above 50-Day Moving Average - Here's What Happened

INV VK MUN TR (NYSE:VKQ - Get Free Report) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $9.23 and traded as high as $9.26. INV VK MUN TR shares last traded at $9.24, with a volume of 176,238 shares traded.

INV VK MUN TR Price Performance

The business has a 50-day moving average price of $9.23 and a 200 day moving average price of $9.53.

INV VK MUN TR Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be issued a $0.0628 dividend. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $0.75 dividend on an annualized basis and a yield of 8.16%.

Insiders Place Their Bets

In other news, Portfolio Manager Timothy M. O'reilly acquired 5,400 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was bought at an average cost of $9.19 per share, for a total transaction of $49,626.00. Following the acquisition, the portfolio manager directly owned 5,400 shares in the company, valued at approximately $49,626. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 5.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On INV VK MUN TR

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in INV VK MUN TR by 467.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 42,526 shares of the investment management company's stock worth $417,000 after purchasing an additional 35,032 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of INV VK MUN TR during the 4th quarter valued at $310,000. LPL Financial LLC boosted its stake in shares of INV VK MUN TR by 296.1% in the 4th quarter. LPL Financial LLC now owns 438,904 shares of the investment management company's stock worth $4,306,000 after buying an additional 328,085 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of INV VK MUN TR by 9.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 18,907 shares of the investment management company's stock worth $182,000 after acquiring an additional 1,613 shares during the period. Finally, Sowell Financial Services LLC purchased a new stake in INV VK MUN TR during the first quarter valued at $135,000. 32.00% of the stock is currently owned by hedge funds and other institutional investors.

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.