Inv Vk Ca Valu (NYSE:VCV) Shares Shorted: Short Interest Down 35.3% in September

Key Points

• Short interest fell 35.3% in September to 155,425 shares, representing approximately 0.3% of outstanding stock and just 0.5 days to cover.
• Institutional investors own 18.8% of VCV, with several firms initiating positions and Kestra Advisory Services increasing its stake by 639.9%.
• VCV shares opened at $8.95, near their 52-week low, while the trust maintained its monthly dividend of $0.0646 per share, equating to an annualized yield of about 8.7%.

Inv Vk Ca Valu (NYSE:VCV - Get Free Report) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 155,425 shares, a decline of 35.3% from the September 15th total of 240,320 shares. Approximately 0.3% of the company's stock are short sold. Based on an average trading volume of 340,942 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of Inv Vk Ca Valu

Several hedge funds and other institutional investors have recently made changes to their positions in VCV. Integrated Wealth Concepts LLC acquired a new stake in shares of Inv Vk Ca Valu in the 2nd quarter worth $41,000. Independent Financial Group LLC purchased a new position in Inv Vk Ca Valu during the 1st quarter worth $123,000. RB Capital Management LLC acquired a new position in Inv Vk Ca Valu during the 2nd quarter valued at about $140,000. NWF Advisory Services Inc. acquired a new position in Inv Vk Ca Valu during the 4th quarter valued at about $166,000. Finally, Kestra Advisory Services LLC increased its position in Inv Vk Ca Valu by 639.9% during the 1st quarter. Kestra Advisory Services LLC now owns 25,704 shares of the investment management company's stock valued at $268,000 after buying an additional 22,230 shares in the last quarter. Hedge funds and other institutional investors own 18.80% of the company's stock.

Inv Vk Ca Valu Price Performance

NYSE:VCV opened at $8.95 on Friday. Inv Vk Ca Valu has a 52 week low of $8.70 and a 52 week high of $11.38. The firm has a 50 day moving average of $9.83 and a 200 day moving average of $10.35.

Inv Vk Ca Valu Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.0646 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This is a boost from Inv Vk Ca Valu's previous monthly dividend of $0.0646. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.7%.

Inv Vk Ca Valu Company Profile

Invesco California Value Municipal Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol VCV. The trust seeks to provide current income that is exempt from regular federal income tax and California state income tax.

The fund invests primarily in municipal securities issued by or on behalf of California state and local governments, public authorities and other municipal entities. These securities may help finance public infrastructure and services such as transportation, utilities, education, health care and housing.

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