Invvlu Mu Incm (NYSE:IIM) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Invvlu Mu Incm's stock price has surpassed its 200-day moving average, trading at $12.51 after reaching a high of $12.52 on Monday.
• The company announced a monthly dividend of $0.0771, resulting in a 7.4% annualized yield for shareholders of record by September 16th.
• Institutional investors have increased their stakes in Invvlu Mu Incm, with Ameriprise Financial boosting its stake by 70.1% in the last quarter.

Invvlu Mu Incm (NYSE:IIM - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.74 and traded as high as $12.52. Invvlu Mu Incm shares last traded at $12.51, with a volume of 105,389 shares trading hands.

Invvlu Mu Incm Trading Up 0.4%

The stock has a 50-day simple moving average of $11.70 and a two-hundred day simple moving average of $11.75.

Invvlu Mu Incm Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.0771 per share. This represents a c) annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend is Tuesday, September 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. LexAurum Advisors LLC acquired a new stake in Invvlu Mu Incm during the 1st quarter worth about $1,104,000. Westchester Capital Management LLC boosted its stake in shares of Invvlu Mu Incm by 86.5% during the 1st quarter. Westchester Capital Management LLC now owns 164,527 shares of the investment management company's stock worth $1,969,000 after acquiring an additional 76,307 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in Invvlu Mu Incm by 33,000.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 76,462 shares of the investment management company's stock worth $890,000 after purchasing an additional 76,231 shares during the period. Goldman Sachs Group Inc. raised its holdings in Invvlu Mu Incm by 246.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 81,747 shares of the investment management company's stock worth $979,000 after purchasing an additional 58,134 shares during the period. Finally, Jane Street Group LLC acquired a new position in Invvlu Mu Incm in the 2nd quarter worth about $270,000. 20.73% of the stock is owned by institutional investors and hedge funds.

Invvlu Mu Incm Company Profile

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.