Invvlu Mu Incm (NYSE:IIM) Shares Shorted: Short Interest Down 79.4% in September

Key Points

• Short interest plunged 79.4% in September to 39,043 shares, representing just 0.1% of IIM’s outstanding stock and 0.1 days of average trading volume.
• Institutional ownership stands at 20.73%, with Hennion & Walsh Asset Management increasing its stake by 63.2% and Bank of America establishing a new position during the second quarter.
• IIM shares recently traded at $10.86, near the lower end of their $10.27–$13.17 one-year range. The trust announced a monthly dividend of $0.0771 per share, implying an annualized yield of approximately 8.5%.

Invvlu Mu Incm (NYSE:IIM - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 39,043 shares, a drop of 79.4% from the September 15th total of 189,465 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily trading volume, of 300,040 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Invvlu Mu Incm

Large investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its position in shares of 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 worth $14,805,000 after purchasing an additional 450,450 shares during the period. Bank of America Corp DE bought a new position in shares of Invvlu Mu Incm during the second quarter valued at approximately $9,075,000. Van ECK Associates Corp increased its holdings in Invvlu Mu Incm by 2.8% during the second quarter. Van ECK Associates Corp now owns 269,300 shares of the investment management company's stock valued at $3,428,000 after buying an additional 7,307 shares during the period. Wagner Wealth Management LLC increased its holdings in Invvlu Mu Incm by 9.8% during the first quarter. Wagner Wealth Management LLC now owns 256,097 shares of the investment management company's stock valued at $3,114,000 after buying an additional 22,921 shares during the period. Finally, Arkadios Wealth Advisors purchased a new position in Invvlu Mu Incm during the first quarter valued at approximately $2,849,000. Institutional investors own 20.73% of the company's stock.

Invvlu Mu Incm Stock Performance

Shares of IIM stock traded up $0.10 on Friday, hitting $10.86. The stock had a trading volume of 276,319 shares, compared to its average volume of 260,110. The business has a 50 day moving average price of $12.01 and a 200 day moving average price of $12.28. Invvlu Mu Incm has a one year low of $10.27 and a one year high of $13.17.

Invvlu Mu Incm Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be issued a dividend of $0.0771 per share. This represents a $0.93 annualized dividend and a yield of 8.5%. The ex-dividend date is Wednesday, October 14th. This is a positive change from Invvlu Mu Incm's previous monthly dividend of $0.0771.

Invvlu Mu Incm Company Profile

Invesco Municipal Income Opportunities Trust NYSE: IIM is a closed-end management investment company focused on generating current income that is generally exempt from federal income tax. Unlike an operating company, the trust does not sell products or services directly to consumers; it invests in a portfolio of municipal securities.

The trust primarily invests in debt obligations issued by states, municipalities and other governmental entities in the United States. These securities may help finance public infrastructure and services, such as transportation, education, healthcare and utilities.

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