Short Interest in Inv Vk Tr Inv (NYSE:VGM) Expands By 53.7%

Key Points

• Short interest in VGM rose 53.7% to 419,812 shares as of August 14, representing 0.8% of shares outstanding and a short-interest ratio of 3.7 days.
• Institutional ownership stands at 38.13%, with several firms increasing their positions, including Hennion & Walsh Asset Management, Cetera Investment Advisers, and Melone Private Wealth.
• Shares recently declined 0.9% to $10.28, while the fund announced a monthly dividend of $0.0646 per share, equating to a reported 7.5% annualized yield.

Inv Vk Tr Inv (NYSE:VGM - ) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 419,812 shares, a growth of 53.7% from the July 30th total of 273,156 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 114,352 shares, the short-interest ratio is presently 3.7 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. increased its position in Inv Vk Tr Inv by 27.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,247,281 shares of the investment management company's stock valued at $13,221,000 after purchasing an additional 269,066 shares during the period. Wealth Care LLC acquired a new position in Inv Vk Tr Inv in the first quarter valued at $494,000. Cetera Investment Advisers lifted its holdings in Inv Vk Tr Inv by 46.0% in the first quarter. Cetera Investment Advisers now owns 187,141 shares of the investment management company's stock valued at $1,847,000 after buying an additional 58,961 shares during the period. Worth Asset Management LLC bought a new stake in Inv Vk Tr Inv during the second quarter valued at $530,000. Finally, Melone Private Wealth LLC raised its position in shares of Inv Vk Tr Inv by 33.6% in the 2nd quarter. Melone Private Wealth LLC now owns 231,002 shares of the investment management company's stock worth $2,449,000 after acquiring an additional 58,143 shares in the last quarter. 38.13% of the stock is owned by institutional investors.

Inv Vk Tr Inv Trading Down 0.9%

VGM stock traded down $0.09 during midday trading on Tuesday, reaching $10.28. 8,243 shares of the company were exchanged, compared to its average volume of 177,380. The business has a 50-day moving average price of $10.39 and a two-hundred day moving average price of $10.29. Inv Vk Tr Inv has a one year low of $9.50 and a one year high of $10.66.

Inv Vk Tr Inv Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a dividend of $0.0646 per share. The ex-dividend date was Monday, August 17th. This represents a c) annualized dividend and a yield of 7.5%.

Inv Vk Tr Inv Company Profile

Invesco Trust for Investment Grade Municipals 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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