Invvlu Mu Incm (NYSE:IIM) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• IIM shares moved above their 200-day moving average on Thursday, trading as high as $13.07 before last changing hands at $12.99. The stock’s 200-day moving average was $12.47.
• The fund recently declared a monthly dividend of $0.0771 per share, payable July 31 to shareholders of record on July 14. That works out to an annualized yield of about 7.1%.
• Institutional investors have been adding to or adjusting positions in the fund, including notable increases from Hennion & Walsh Asset Management, Guggenheim Capital, and Goldman Sachs. Overall, hedge funds and other institutions own about 20.73% of the stock.

Invvlu Mu Incm (NYSE:IIM - )'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.47 and traded as high as $13.07. Invvlu Mu Incm shares last traded at $12.99, with a volume of 89,101 shares.

Invvlu Mu Incm Price Performance

The business's fifty day simple moving average is $12.45 and its 200 day simple moving average is $12.47.

Invvlu Mu Incm Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be paid a $0.0771 dividend. The ex-dividend date is Tuesday, July 14th. This represents a c) annualized dividend and a dividend yield of 7.1%.

Institutional Investors Weigh In On Invvlu Mu Incm

Several hedge funds and other institutional investors have recently bought and sold shares of IIM. Hennion & Walsh Asset Management Inc. increased its stake in shares of Invvlu Mu Incm by 63.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,162,995 shares of the investment management company's stock worth $14,805,000 after buying an additional 450,450 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Invvlu Mu Incm during the 1st quarter valued at $2,849,000. Guggenheim Capital LLC grew its holdings in Invvlu Mu Incm by 23.0% during the 4th quarter. Guggenheim Capital LLC now owns 1,119,319 shares of the investment management company's stock worth $13,790,000 after acquiring an additional 208,989 shares in the last quarter. Wagner Wealth Management LLC grew its holdings in Invvlu Mu Incm by 79.5% during 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. Finally, Goldman Sachs Group Inc. grew its holdings in Invvlu Mu Incm by 246.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 81,747 shares of the investment management company's stock worth $979,000 after acquiring an additional 58,134 shares in the last quarter. 20.73% of the stock is currently owned by hedge funds and other institutional investors.

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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