Inv Vk Pa Valu (NYSE:VPV) Sees Significant Decrease in Short Interest

Key Points

• Short interest in VPV fell sharply in June, dropping 41.2% to 36,587 shares as of June 30. That leaves just 0.2% of the stock sold short, with a days-to-cover ratio of 0.8 days.
• The fund’s shares were slightly lower in trading, down 0.5% to $11.17, near both its 50-day moving average of $11.13 and 200-day moving average of $10.84. Trading volume was below average.
• VPV announced a monthly dividend of $0.0667 per share, payable July 31 to shareholders of record on July 14. The dividend implies an annualized yield of about 7.2%.

Inv Vk Pa Valu (NYSE:VPV - ) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 36,587 shares, a decline of 41.2% from the June 15th total of 62,227 shares. Currently, 0.2% of the company's stock are sold short. Based on an average trading volume of 43,087 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Rivernorth Capital Management LLC increased its position in shares of Inv Vk Pa Valu by 63.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 120,913 shares of the financial services provider's stock valued at $1,265,000 after purchasing an additional 46,991 shares during the period. Alpine Global Management LLC bought a new stake in shares of Inv Vk Pa Valu in the 3rd quarter worth about $455,000. NewEdge Advisors LLC acquired a new stake in Inv Vk Pa Valu during the 1st quarter worth $236,000. Baird Financial Group Inc. increased its stake in Inv Vk Pa Valu by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 48,127 shares of the financial services provider's stock worth $484,000 after purchasing an additional 13,519 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Inv Vk Pa Valu by 27.2% during the 4th quarter. LPL Financial LLC now owns 54,268 shares of the financial services provider's stock worth $568,000 after acquiring an additional 11,604 shares during the period.

Inv Vk Pa Valu Trading Down 0.5%

Shares of Inv Vk Pa Valu stock traded down $0.06 during midday trading on Thursday, hitting $11.17. 26,645 shares of the company traded hands, compared to its average volume of 32,603. The firm's fifty day moving average price is $11.13 and its 200-day moving average price is $10.84. Inv Vk Pa Valu has a 12 month low of $9.87 and a 12 month high of $11.50.

Inv Vk Pa Valu Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be paid a dividend of $0.0667 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) annualized dividend and a yield of 7.2%.

Inv Vk Pa Valu Company Profile

Invesco Pennsylvania Value Municipal Income 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 Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade Pennsylvania municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations.

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