Invesco Advantage Municipal Income Trust II (NYSEAMERICAN:VKI) Stock Short Interest Jumps 191.2%

Key Points

• Short interest surged 191.2% to 49,132 shares as of October 15, up from 16,872 shares on September 30. Despite the increase, only about 0.1% of VKI’s shares were short, with a days-to-cover ratio of 0.1.
• VKI shares traded at $8.34, near the middle of their $7.25–$9.60 one-year range. The stock’s 50-day and 200-day moving averages were $8.28 and $8.86, respectively.
• The trust maintained a monthly dividend of $0.0559, equivalent to approximately $0.67 annually and an 8.0% yield. Institutional investors owned 27.52% of the company, with several firms increasing their positions.

Invesco Advantage Municipal Income Trust II (NYSEAMERICAN:VKI - Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 49,132 shares, an increase of 191.2% from the September 30th total of 16,872 shares. Based on an average trading volume of 369,707 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company's shares are short sold.

Invesco Advantage Municipal Income Trust II Stock Performance

Invesco Advantage Municipal Income Trust II stock traded up $0.06 during mid-day trading on Thursday, hitting $8.34. The company's stock had a trading volume of 142,518 shares, compared to its average volume of 142,993. Invesco Advantage Municipal Income Trust II has a one year low of $7.25 and a one year high of $9.60. The company has a 50 day moving average of $8.28 and a 200-day moving average of $8.86.

Invesco Advantage Municipal Income Trust II Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be issued a $0.0559 dividend. The ex-dividend date is Wednesday, October 14th. This is an increase from Invesco Advantage Municipal Income Trust II's previous monthly dividend of $0.0559. This represents a $0.67 annualized dividend and a dividend yield of 8.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. purchased a new position in shares of Invesco Advantage Municipal Income Trust II in the 2nd quarter valued at approximately $127,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Invesco Advantage Municipal Income Trust II by 98.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 989,489 shares of the financial services provider's stock valued at $9,380,000 after acquiring an additional 490,553 shares during the period. Worth Asset Management LLC purchased a new stake in Invesco Advantage Municipal Income Trust II during the 2nd quarter valued at about $271,000. Cetera Investment Advisers grew its stake in Invesco Advantage Municipal Income Trust II by 20.4% during the 1st quarter. Cetera Investment Advisers now owns 35,844 shares of the financial services provider's stock valued at $310,000 after purchasing an additional 6,068 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of Invesco Advantage Municipal Income Trust II by 334.8% in the first quarter. Kestra Advisory Services LLC now owns 24,492 shares of the financial services provider's stock valued at $212,000 after purchasing an additional 18,859 shares during the period. Hedge funds and other institutional investors own 27.52% of the company's stock.

About Invesco Advantage Municipal Income Trust II

Invesco Advantage Municipal Income Trust II is a closed-end management investment company listed on the NYSE American under the symbol VKI. The trust seeks to provide current income that is exempt from regular federal income tax by investing primarily in a portfolio of municipal securities issued by states, municipalities and other public-sector entities.

The fund may invest in a range of tax-exempt obligations, including general obligation and revenue bonds. Revenue from these securities is generally supported by specific projects, facilities or public services, such as transportation systems, utilities, hospitals and schools.

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