Inv Vk Mun Tr (NYSE:VKQ) Stock Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• The stock price of Inv Vk Mun Tr (NYSE:VKQ) has risen above its 50-day moving average of $9.35, reaching a high of $9.65 during trading.
• Investors will receive a monthly dividend of $0.0628 per share on October 31st, resulting in an annualized yield of 7.8%.
• In the first quarter, hedge funds increased their holdings in Inv Vk Mun Tr significantly, with PNC Financial Services Group raising its stake by 64.1%.

Inv Vk Mun Tr (NYSE:VKQ - )'s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $9.35 and traded as high as $9.65. Inv Vk Mun Tr shares last traded at $9.65, with a volume of 77,688 shares trading hands.

Inv Vk Mun Tr Stock Performance

The firm's 50 day moving average is $9.35 and its 200 day moving average is $9.27.

Inv Vk Mun Tr Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be paid a dividend of $0.0628 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a c) annualized dividend and a yield of 7.8%.

Hedge Funds Weigh In On Inv Vk Mun Tr

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in Inv Vk Mun Tr by 64.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 69,790 shares of the investment management company's stock worth $673,000 after buying an additional 27,264 shares in the last quarter. Invesco Ltd. grew its stake in Inv Vk Mun Tr by 42.8% in the 1st quarter. Invesco Ltd. now owns 147,047 shares of the investment management company's stock worth $1,419,000 after buying an additional 44,055 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in Inv Vk Mun Tr by 9.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 18,907 shares of the investment management company's stock worth $182,000 after buying an additional 1,613 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Inv Vk Mun Tr in the 1st quarter worth approximately $135,000. Finally, LPL Financial LLC grew its stake in Inv Vk Mun Tr by 23.6% in the 1st quarter. LPL Financial LLC now owns 542,278 shares of the investment management company's stock worth $5,233,000 after buying an additional 103,374 shares in the last quarter. Hedge funds and other institutional investors 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.

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