Invvlu Mu Incm (NYSE:IIM) Short Interest Up 58.5% in September

Key Points

• The short interest for Invvlu Mu Incm (NYSE:IIM) increased by 58.5% in September, reaching a total of 196,800 shares, indicating a significant shift in market sentiment.
• The company announced a monthly dividend of $0.0771 per share, payable on October 31st, with a dividend yield of 7.4%.
• Large institutional investors have been active in the stock, with major stakes being raised, including a 115,000.0% increase from Curio Wealth LLC in the second quarter.

Invvlu Mu Incm (NYSE:IIM - ) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 196,800 shares, a growth of 58.5% from the September 15th total of 124,200 shares. Based on an average daily volume of 149,000 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily volume of 149,000 shares, the days-to-cover ratio is currently 1.3 days.

Invvlu Mu Incm Trading Down 0.4%

Shares of Invvlu Mu Incm stock traded down $0.06 on Wednesday, reaching $12.59. 146,829 shares of the stock were exchanged, compared to its average volume of 144,396. The business has a 50 day moving average price of $12.20 and a two-hundred day moving average price of $11.81. Invvlu Mu Incm has a twelve month low of $10.96 and a twelve month high of $12.77.

Invvlu Mu Incm Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be given a dividend of $0.0771 per share. The ex-dividend date is Thursday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%.

Hedge Funds Weigh In On Invvlu Mu Incm

Large investors have recently added to or reduced their stakes in the stock. Curio Wealth LLC raised its holdings in Invvlu Mu Incm by 115,000.0% in the 2nd quarter. Curio Wealth LLC now owns 2,302 shares of the investment management company's stock valued at $27,000 after acquiring an additional 2,300 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Invvlu Mu Incm during the 1st quarter worth approximately $28,000. Hilltop National Bank purchased a new stake in Invvlu Mu Incm in the second quarter valued at $49,000. Atlantic Union Bankshares Corp purchased a new position in shares of Invvlu Mu Incm during the 2nd quarter worth $50,000. Finally, Allworth Financial LP raised its holdings in Invvlu Mu Incm by 132.6% in the 2nd quarter. Allworth Financial LP now owns 5,323 shares of the investment management company's stock valued at $62,000 after buying an additional 3,035 shares during the period. 20.73% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.