Inv Vk Tr Inv (NYSE:VGM) Short Interest Down 67.0% in March

Key Points

• Inv Vk Tr Inv experienced a 67.0% drop in short interest in March to 65,037 shares (about 0.1% of shares short), leaving a very low short-interest ratio of 0.3 days based on average daily volume.
• The fund announced a monthly dividend of $0.0646 (ex-dividend Apr 14, payable Apr 30), which equals an annualized dividend yield of 7.5%.
• Shares opened at $10.30 with 50- and 200-day moving averages near $10.28 and $10.25, and institutional ownership is about 38.13% after several firms added or initiated positions.

Inv Vk Tr Inv (NYSE:VGM - ) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 65,037 shares, a drop of 67.0% from the March 15th total of 197,243 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily trading volume, of 228,303 shares, the short-interest ratio is currently 0.3 days.

Inv Vk Tr Inv Stock Up 0.3%

NYSE VGM opened at $10.30 on Friday. The firm's fifty day moving average price is $10.28 and its 200 day moving average price is $10.25. Inv Vk Tr Inv has a 12 month low of $9.32 and a 12 month high of $10.66.

Inv Vk Tr Inv Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 14th will be given a $0.0646 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Tuesday, April 14th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in Inv Vk Tr Inv during the 3rd quarter worth $30,000. Comerica Bank grew its position in Inv Vk Tr Inv by 85.2% during the 4th quarter. Comerica Bank now owns 5,370 shares of the investment management company's stock worth $56,000 after purchasing an additional 2,470 shares during the last quarter. Allworth Financial LP grew its position in Inv Vk Tr Inv by 727.9% during the 4th quarter. Allworth Financial LP now owns 5,688 shares of the investment management company's stock worth $59,000 after purchasing an additional 5,001 shares during the last quarter. Camelot Portfolios LLC purchased a new position in Inv Vk Tr Inv during the 4th quarter worth $103,000. Finally, Concurrent Investment Advisors LLC grew its position in Inv Vk Tr Inv by 24.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 12,805 shares of the investment management company's stock worth $130,000 after purchasing an additional 2,500 shares during the last quarter. 38.13% of the stock is owned by hedge funds and other 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.

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.