Inv Vk Tr Inv (NYSE:VGM) Sees Significant Decline in Short Interest

Key Points

• Short interest fell 45.2% to 158,864 shares as of September 30, representing 0.3% of VGM’s outstanding stock and just 0.3 days to cover.
• Several institutional investors recently initiated positions, while institutional ownership stands at 38.13% of the fund.
• VGM traded at $8.98, near its 12-month low, and offers a monthly dividend of $0.0646 per share—about $0.78 annually and an 8.6% yield.

Inv Vk Tr Inv (NYSE:VGM - Get Free Report) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totaling 158,864 shares, a drop of 45.2% from the September 15th total of 290,094 shares. Based on an average daily volume of 473,751 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.3% of the company's stock are sold short.

Institutional Trading of Inv Vk Tr Inv

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new position in Inv Vk Tr Inv in the first quarter worth about $81,000. Private Client Services LLC bought a new stake in Inv Vk Tr Inv in the third quarter valued at about $100,000. Clark Asset Management LLC bought a new stake in Inv Vk Tr Inv in the second quarter valued at about $123,000. Susquehanna International Group LLP acquired a new stake in Inv Vk Tr Inv during the second quarter valued at approximately $127,000. Finally, Quadcap Wealth Management LLC acquired a new stake in Inv Vk Tr Inv during the first quarter valued at approximately $121,000. Institutional investors own 38.13% of the company's stock.

Inv Vk Tr Inv Price Performance

VGM stock traded up $0.13 during midday trading on Thursday, hitting $8.98. 101,055 shares of the company's stock were exchanged, compared to its average volume of 202,747. The firm has a 50 day moving average price of $9.72 and a 200-day moving average price of $10.07. Inv Vk Tr Inv has a 12-month low of $8.39 and a 12-month high of $10.66.

Inv Vk Tr Inv Increases Dividend

The business 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 an increase from Inv Vk Tr Inv's previous monthly dividend of $0.0646. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.6%.

About Inv Vk Tr Inv

Inv Vk Tr Inv, traded on the New York Stock Exchange under the symbol VGM, is a closed-end investment fund focused on investment-grade municipal securities. Its primary objective is to provide current income that is generally exempt from regular U.S. federal income tax.

The fund invests primarily in bonds and other debt obligations issued by states, municipalities and related public entities. These securities may help finance public infrastructure and services such as schools, transportation systems, utilities and healthcare facilities.

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