Invvlu Mu Incm (NYSE:IIM) Sees Large Growth in Short Interest

Key Points

• Short interest jumped 72.3% to 407,126 shares as of March 13, giving a short-interest ratio of about 2.1 days and representing roughly 0.9% of the float.
• Several institutions materially increased positions—Guggenheim Capital added 208,989 shares (up 23%) and Gridiron Partners grew its stake 424.2%—and institutional investors now own about 20.73% of the stock.
• The fund announced a monthly dividend of $0.0771 payable March 31 (ex-dividend March 16), implying an annualized dividend yield of about 7.7%.

Invvlu Mu Incm (NYSE:IIM - ) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 407,126 shares, a growth of 72.3% from the February 26th total of 236,322 shares. Based on an average trading volume of 198,281 shares, the short-interest ratio is presently 2.1 days. Approximately 0.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Invvlu Mu Incm

Several institutional investors have recently added to or reduced their stakes in IIM. Guggenheim Capital LLC grew its stake in Invvlu Mu Incm by 23.0% during the fourth quarter. Guggenheim Capital LLC now owns 1,119,319 shares of the investment management company's stock worth $13,790,000 after buying an additional 208,989 shares during the last quarter. Gridiron Partners LLC raised its stake in shares of Invvlu Mu Incm by 424.2% in the third quarter. Gridiron Partners LLC now owns 150,650 shares of the investment management company's stock valued at $1,891,000 after acquiring an additional 121,909 shares during the last quarter. Wagner Wealth Management LLC boosted its holdings in shares of Invvlu Mu Incm by 79.5% in the 4th quarter. Wagner Wealth Management LLC now owns 233,176 shares of the investment management company's stock worth $2,873,000 after acquiring an additional 103,238 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Invvlu Mu Incm by 13.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 827,675 shares of the investment management company's stock worth $10,387,000 after acquiring an additional 98,759 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Invvlu Mu Incm by 577.9% during the 3rd quarter. D.A. Davidson & CO. now owns 69,538 shares of the investment management company's stock valued at $873,000 after purchasing an additional 59,280 shares in the last quarter. 20.73% of the stock is owned by institutional investors.

Invvlu Mu Incm Stock Performance

Invvlu Mu Incm stock traded down $0.10 during mid-day trading on Friday, hitting $11.97. 171,145 shares of the company were exchanged, compared to its average volume of 153,492. The business has a fifty day moving average of $12.65 and a 200 day moving average of $12.53. Invvlu Mu Incm has a 1-year low of $10.96 and a 1-year high of $13.17.

Invvlu Mu Incm Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.0771 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 7.7%.

About Invvlu Mu Incm

Invesco 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 municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations.

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