Inv Vk Tr Inv (NYSE:VGM) Sees Large Increase in Short Interest

Key Points

• Short interest surged 77.8% to 435,171 shares as of July 15, up from 244,736 shares on June 30. Short interest represents 0.8% of shares outstanding, with a 3.2-day days-to-cover ratio.
• VGM shares rose 0.3% to $10.19, trading between a 52-week range of $9.42 to $10.66. The stock’s 50-day and 200-day moving averages were $10.33 and $10.30, respectively.
• The fund declared a monthly dividend of $0.0646 per share, implying a 7.6% annualized yield. Institutional investors own 38.13% of the fund, with several firms recently increasing their positions.

Inv Vk Tr Inv (NYSE:VGM - ) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 435,171 shares, an increase of 77.8% from the June 30th total of 244,736 shares. Based on an average trading volume of 134,592 shares, the days-to-cover ratio is currently 3.2 days. Currently, 0.8% of the shares of the company are short sold.

Inv Vk Tr Inv Trading Up 0.3%

NYSE:VGM traded up $0.04 on Thursday, hitting $10.19. The stock had a trading volume of 156,643 shares, compared to its average volume of 187,406. The business's 50-day simple moving average is $10.33 and its two-hundred day simple moving average is $10.30. Inv Vk Tr Inv has a 52-week low of $9.42 and a 52-week high of $10.66.

Inv Vk Tr Inv Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be given a dividend of $0.0646 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date is Tuesday, July 14th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its stake in shares of Inv Vk Tr Inv by 0.4% during the 4th quarter. Stifel Financial Corp now owns 245,207 shares of the investment management company's stock worth $2,543,000 after acquiring an additional 1,047 shares during the last quarter. Compound Planning Inc. raised its holdings in Inv Vk Tr Inv by 7.0% in the 1st quarter. Compound Planning Inc. now owns 17,974 shares of the investment management company's stock worth $177,000 after purchasing an additional 1,178 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Inv Vk Tr Inv by 6.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,339 shares of the investment management company's stock worth $273,000 after purchasing an additional 1,617 shares during the period. Cornerstone Wealth Management LLC lifted its position in Inv Vk Tr Inv by 13.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 17,165 shares of the investment management company's stock valued at $178,000 after purchasing an additional 2,076 shares in the last quarter. Finally, Comerica Bank lifted its position in Inv Vk Tr Inv by 85.2% during the fourth quarter. Comerica Bank now owns 5,370 shares of the investment management company's stock valued at $56,000 after purchasing an additional 2,470 shares in the last quarter. 38.13% of the stock is currently owned by institutional investors.

About Inv Vk Tr Inv

Invesco Trust for Investment Grade Municipals 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 municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations.

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