Inv Vk Ca Valu (NYSE:VCV) Stock Price Breaks Below 200 Day Moving Average - Here's Why

Key Points

• VCV shares fell below their 200-day moving average, trading as low as $8.83 versus the average of $10.39, and last changing hands at $8.92.
• The trust declared a monthly dividend of $0.0646 per share, equivalent to $0.78 annually and an 8.7% yield.
• Institutional investors have been active in the stock, with several firms increasing or initiating positions; hedge funds and other institutions collectively own 18.8% of VCV.

Inv Vk Ca Valu (NYSE:VCV - Get Free Report) shares crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $10.39 and traded as low as $8.83. Inv Vk Ca Valu shares last traded at $8.92, with a volume of 291,571 shares.

Inv Vk Ca Valu Stock Up 1.2%

The stock's 50 day moving average price is $9.96 and its 200-day moving average price is $10.39.

Inv Vk Ca Valu Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be paid a $0.0646 dividend. This is a boost from Inv Vk Ca Valu's previous monthly dividend of $0.0646. This represents a $0.78 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Wednesday, October 14th.

Institutional Trading of Inv Vk Ca Valu

Several institutional investors have recently added to or reduced their stakes in VCV. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Inv Vk Ca Valu by 21.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 570,385 shares of the investment management company's stock worth $6,154,000 after buying an additional 99,089 shares during the period. Bank of America Corp DE purchased a new stake in Inv Vk Ca Valu during the 2nd quarter valued at about $1,917,000. Wedbush Securities Inc. grew its position in Inv Vk Ca Valu by 92.9% during the 2nd quarter. Wedbush Securities Inc. now owns 70,801 shares of the investment management company's stock worth $764,000 after acquiring an additional 34,101 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Inv Vk Ca Valu during the 2nd quarter worth approximately $654,000. Finally, Argyle Capital Partners LLC increased its stake in Inv Vk Ca Valu by 12.1% in the 4th quarter. Argyle Capital Partners LLC now owns 46,364 shares of the investment management company's stock worth $516,000 after purchasing an additional 5,000 shares during the period. 18.80% of the stock is currently owned by hedge funds and other institutional investors.

About Inv Vk Ca Valu

Invesco California Value Municipal Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol VCV. The trust seeks to provide current income that is exempt from regular federal income tax and California state income tax.

The fund invests primarily in municipal securities issued by or on behalf of California state and local governments, public authorities and other municipal entities. These securities may help finance public infrastructure and services such as transportation, utilities, education, health care and housing.

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