INV VK MUN TR (NYSE:VKQ) Sees Large Volume Increase - Here's Why

Shares of INV VK MUN TR (NYSE:VKQ - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 187,634 shares traded hands during mid-day trading, an increase of 16% from the previous session's volume of 162,330 shares.The stock last traded at $9.08 and had previously closed at $9.09.

INV VK MUN TR Stock Up 0.2%

The business has a 50 day simple moving average of $9.24 and a 200-day simple moving average of $9.60.

INV VK MUN TR Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a dividend of $0.0628 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date is Tuesday, June 17th.

Insider Activity at INV VK MUN TR

In related news, Portfolio Manager Timothy M. O'reilly acquired 5,400 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were acquired at an average cost of $9.19 per share, for a total transaction of $49,626.00. Following the completion of the purchase, the portfolio manager now directly owns 5,400 shares in the company, valued at $49,626. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.37% of the company's stock.

Institutional Investors Weigh In On INV VK MUN TR

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of INV VK MUN TR by 467.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 42,526 shares of the investment management company's stock valued at $417,000 after purchasing an additional 35,032 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of INV VK MUN TR during the fourth quarter valued at about $310,000. LPL Financial LLC raised its stake in shares of INV VK MUN TR by 296.1% during the fourth quarter. LPL Financial LLC now owns 438,904 shares of the investment management company's stock valued at $4,306,000 after purchasing an additional 328,085 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of INV VK MUN TR by 9.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 18,907 shares of the investment management company's stock valued at $182,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in INV VK MUN TR by 2.7% during the fourth quarter. Van ECK Associates Corp now owns 413,979 shares of the investment management company's stock worth $4,061,000 after acquiring an additional 10,868 shares during the period. 32.00% of the stock is currently owned by institutional investors.

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.