Inv Vk Ca Valu (NYSE:VCV) Hits New 1-Year Low - Time to Sell?

Key Points

• Inv Vk Ca Valu (NYSE: VCV) fell to a new 52-week low, trading as low as $10.20 and closing near $10.25, below its 50-day and 200-day moving averages.
• The fund announced a monthly dividend of $0.0646 per share, representing an annualized yield of approximately 7.6%; the ex-dividend date is September 14.
• Institutional investors and hedge funds own 18.8% of the stock, with several firms recently increasing their positions, while VCV primarily invests in investment-grade California municipal securities.

Inv Vk Ca Valu (NYSE:VCV - ) shares hit a new 52-week low during trading on Friday . The company traded as low as $10.20 and last traded at $10.25, with a volume of 123098 shares changing hands. The stock had previously closed at $10.28.

Inv Vk Ca Valu Trading Down 0.3%

The stock has a fifty day simple moving average of $10.63 and a two-hundred day simple moving average of $10.68.

Inv Vk Ca Valu Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 14th will be paid a dividend of $0.0646 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a c) annualized dividend and a yield of 7.6%.

Hedge Funds Weigh In On Inv Vk Ca Valu

Several institutional investors have recently added to or reduced their stakes in the business. NWF Advisory Services Inc. lifted its position in shares of Inv Vk Ca Valu by 5.8% during the 2nd quarter. NWF Advisory Services Inc. now owns 18,300 shares of the investment management company's stock valued at $197,000 after acquiring an additional 1,000 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Inv Vk Ca Valu by 3.1% during the second quarter. Osaic Holdings Inc. now owns 40,265 shares of the investment management company's stock valued at $418,000 after purchasing an additional 1,196 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Inv Vk Ca Valu by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 55,684 shares of the investment management company's stock worth $620,000 after purchasing an additional 1,874 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Inv Vk Ca Valu by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 622,806 shares of the investment management company's stock worth $6,932,000 after purchasing an additional 3,279 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Inv Vk Ca Valu in the 4th quarter valued at about $39,000. 18.80% of the stock is owned by institutional investors and hedge funds.

Inv Vk Ca Valu Company Profile

Invesco California Value Municipal Income Trust 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 California municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.