Invvlu Mu Incm (NYSE:IIM) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• IIM shares moved above their 200-day moving average, reaching $12.73 before closing at $12.67. The 200-day average was $12.53, while the 50-day average stood at $12.68.
• The fund announced a monthly dividend of $0.0771 per share, payable August 31 to shareholders of record August 17, representing an annualized yield of approximately 7.3%.
• Institutional ownership increased, with several investment firms adding to or initiating positions; institutional investors collectively held 20.73% of the company’s stock.

Invvlu Mu Incm (NYSE:IIM - ) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.53 and traded as high as $12.73. Invvlu Mu Incm shares last traded at $12.67, with a volume of 117,024 shares traded.

Invvlu Mu Incm Price Performance

The stock's 50 day moving average is $12.68 and its 200-day moving average is $12.53.

Invvlu Mu Incm Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.0771 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) annualized dividend and a yield of 7.3%.

Institutional Investors Weigh In On Invvlu Mu Incm

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in Invvlu Mu Incm in the 2nd quarter worth approximately $9,075,000. Hennion & Walsh Asset Management Inc. lifted its position in Invvlu Mu Incm by 63.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,162,995 shares of the investment management company's stock valued at $14,805,000 after acquiring an additional 450,450 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in Invvlu Mu Incm during the 1st quarter valued at $2,849,000. Guggenheim Capital LLC boosted 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 purchasing an additional 208,989 shares during the last quarter. Finally, Wagner Wealth Management LLC increased 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 purchasing an additional 103,238 shares in the last quarter. Hedge funds and other institutional investors own 20.73% of the company's stock.

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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