Inv Vk Mun Tr (NYSE:VKQ) Reaches New 52-Week Low - Should You Sell?

Key Points

• VKQ shares reached a new 52-week low, trading as low as $9.10 and last changing hands near $9.23, below both its 50-day and 200-day moving averages of approximately $9.70.
• The fund declared a monthly dividend of $0.0628 per share, representing an annualized yield of about 8.2%; the ex-dividend date is September 14 and payment is scheduled for September 30.
• Institutional investors and hedge funds own approximately 32% of VKQ, with several firms recently increasing their positions. The closed-end fund invests primarily in municipal securities and seeks tax-exempt current income.

Inv Vk Mun Tr (NYSE:VKQ - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.10 and last traded at $9.2250, with a volume of 213824 shares changing hands. The stock had previously closed at $9.17.

Inv Vk Mun Tr Price Performance

The company has a 50 day moving average of $9.70 and a 200 day moving average of $9.73.

Inv Vk Mun Tr Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be given a dividend of $0.0628 per share. This represents a c) dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend is Monday, September 14th.

Institutional Investors Weigh In On Inv Vk Mun Tr

A number of large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. increased its stake in Inv Vk Mun Tr by 3.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 51,829 shares of the investment management company's stock worth $520,000 after buying an additional 1,725 shares during the period. Choreo LLC raised its position in shares of Inv Vk Mun Tr by 14.5% during the 2nd quarter. Choreo LLC now owns 19,163 shares of the investment management company's stock worth $192,000 after purchasing an additional 2,429 shares during the period. Madison Park Capital Advisors LLC grew its position in shares of Inv Vk Mun Tr by 6.2% during the first quarter. Madison Park Capital Advisors LLC now owns 45,236 shares of the investment management company's stock worth $431,000 after acquiring an additional 2,628 shares during the last quarter. World Investment Advisors lifted its position in Inv Vk Mun Tr by 11.0% in the 1st quarter. World Investment Advisors now owns 27,269 shares of the investment management company's stock valued at $260,000 after purchasing an additional 2,710 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Inv Vk Mun Tr by 11.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 33,153 shares of the investment management company's stock valued at $320,000 after purchasing an additional 3,349 shares during the period. 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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