Inv Vk Tr Inv (NYSE:VGM) Short Interest Up 86.3% in April

Key Points

• Short interest rose 86.3% in April for Inv Vk Tr Inv (NYSE:VGM), reaching 121,193 shares (about 0.2% of the stock) with a days-to-cover of 0.8 days.
• The fund declared a monthly dividend of $0.0646 (record date Apr 14, paid Apr 30), reflecting an annualized yield of 7.6%.
• Institutional investors own about 38.13% of the fund, and several firms (including Comerica and Allworth Financial) recently increased or initiated positions.

Inv Vk Tr Inv (NYSE:VGM - ) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totaling 121,193 shares, an increase of 86.3% from the March 31st total of 65,037 shares. Approximately 0.2% of the company's stock are sold short. Based on an average daily trading volume, of 159,993 shares, the days-to-cover ratio is currently 0.8 days.

Inv Vk Tr Inv Stock Performance

NYSE VGM opened at $10.14 on Monday. Inv Vk Tr Inv has a 52 week low of $9.37 and a 52 week high of $10.66. The stock's 50 day moving average price is $10.24 and its two-hundred day moving average price is $10.26.

Inv Vk Tr Inv Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Stockholders 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 7.6%. The ex-dividend date of this dividend is Tuesday, April 14th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new stake in Inv Vk Tr Inv during the 3rd quarter worth about $30,000. Comerica Bank increased its position in shares of Inv Vk Tr Inv by 85.2% in the fourth quarter. Comerica Bank now owns 5,370 shares of the investment management company's stock valued at $56,000 after acquiring an additional 2,470 shares during the last quarter. Allworth Financial LP raised its holdings in Inv Vk Tr Inv by 727.9% during the fourth quarter. Allworth Financial LP now owns 5,688 shares of the investment management company's stock worth $59,000 after acquiring an additional 5,001 shares in the last quarter. Camelot Portfolios LLC acquired a new position in Inv Vk Tr Inv during the fourth quarter valued at approximately $103,000. Finally, Concurrent Investment Advisors LLC boosted its position in Inv Vk Tr Inv by 24.3% during the third quarter. Concurrent Investment Advisors LLC now owns 12,805 shares of the investment management company's stock valued at $130,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 38.13% of the company's stock.

Inv Vk Tr Inv Company Profile

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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