Invvlu Mu Incm (NYSE:IIM) Short Interest Update

Key Points

• Short interest plunged 62.6% — short interest fell to 152,142 shares as of March 31 (about 0.3% of shares) and the short-interest ratio is only 0.8 days based on average volume.
• High dividend yield — the fund declared a monthly dividend of $0.0771 per share (ex-dividend Apr 14, paid Apr 30), implying an annualized yield of about 7.4%.
• Institutional buying — hedge funds and institutions own roughly 20.7% of the stock, with Guggenheim Capital raising its stake to 1,119,319 shares and several other firms increasing holdings.

Invvlu Mu Incm (NYSE:IIM - ) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 152,142 shares, a decline of 62.6% from the March 15th total of 407,126 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 185,926 shares, the short-interest ratio is presently 0.8 days.

Invvlu Mu Incm Price Performance

IIM traded up $0.06 during mid-day trading on Friday, reaching $12.48. 66,968 shares of the company traded hands, compared to its average volume of 166,501. The company's fifty day moving average price is $12.61 and its 200-day moving average price is $12.51. Invvlu Mu Incm has a 52-week low of $11.20 and a 52-week high of $13.17.

Invvlu Mu Incm Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $0.0771 per share. The ex-dividend date is Tuesday, April 14th. This represents a c) dividend on an annualized basis and a yield of 7.4%.

Institutional Investors Weigh In On Invvlu Mu Incm

A number of hedge funds have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC raised its stake 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 valued at $13,790,000 after buying an additional 208,989 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Invvlu Mu Incm by 13.5% in 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 purchasing an additional 98,759 shares in the last quarter. UBS Group AG increased its stake in shares of Invvlu Mu Incm by 0.8% in the 4th quarter. UBS Group AG now owns 588,281 shares of the investment management company's stock worth $7,248,000 after purchasing an additional 4,652 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Invvlu Mu Incm by 2.0% in the 4th quarter. Van ECK Associates Corp now owns 240,665 shares of the investment management company's stock worth $2,965,000 after purchasing an additional 4,755 shares in the last quarter. Finally, Wagner Wealth Management LLC increased its stake 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 purchasing an additional 103,238 shares in the last quarter. 20.73% of the stock is currently owned by hedge funds and other institutional investors.

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. 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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