Inv Vk Mun Tr (NYSE:VKQ) Hits New 1-Year Low - Here's Why

Key Points

• VKQ fell to a new 52-week low of $9.26 during Tuesday trading, down 1.2% from its prior close of $9.37 and below its 50- and 200-day moving averages near $9.75.
• Invesco Municipal Trust declared a monthly dividend of $0.0628 per share, payable September 30 to shareholders of record September 14, representing an annualized yield of approximately 8.1%.
• Institutional investors increased their positions in VKQ, led by Hennion & Walsh Asset Management’s 236.9% stake increase; institutions and hedge funds collectively own about 32% of the trust.

Inv Vk Mun Tr (NYSE:VKQ - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $9.26 and last traded at $9.2580, with a volume of 147320 shares traded. The stock had previously closed at $9.37.

Inv Vk Mun Tr Stock Down 1.2%

The company has a 50 day moving average of $9.77 and a 200 day moving average of $9.75.

Inv Vk Mun Tr Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be issued a $0.0628 dividend. The ex-dividend date is Monday, September 14th. This represents a c) dividend on an annualized basis and a yield of 8.1%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VKQ. Hennion & Walsh Asset Management Inc. lifted its holdings in Inv Vk Mun Tr by 236.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 940,068 shares of the investment management company's stock valued at $9,438,000 after acquiring an additional 661,027 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Inv Vk Mun Tr by 29.0% in the 2nd quarter. NewEdge Advisors LLC now owns 453,003 shares of the investment management company's stock valued at $4,548,000 after purchasing an additional 101,890 shares during the last quarter. Bank of America Corp DE boosted its stake in Inv Vk Mun Tr by 12.4% during the first quarter. Bank of America Corp DE now owns 228,050 shares of the investment management company's stock worth $2,171,000 after buying an additional 25,246 shares during the period. Cetera Investment Advisers boosted its position in shares of Inv Vk Mun Tr by 26.6% during the 1st quarter. Cetera Investment Advisers now owns 101,050 shares of the investment management company's stock worth $962,000 after purchasing an additional 21,227 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Inv Vk Mun Tr by 10.2% in the first quarter. Royal Bank of Canada now owns 85,870 shares of the investment management company's stock valued at $817,000 after buying an additional 7,972 shares in the last quarter. Institutional investors and hedge funds own 32.00% of the company's stock.

Inv Vk Mun Tr Company Profile

Invesco Municipal Trust NYSE: VKQ is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax. The fund primarily invests in a diversified portfolio of municipal securities issued by states, municipalities and other governmental entities.

The trust's portfolio may include general obligation and revenue bonds, including securities used to finance public infrastructure, education, transportation, utilities and other essential services.

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