Inv Vk Mun Tr (NYSE:VKQ) Share Price Passes Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• VKQ fell below its 200-day moving average, trading as low as $9.73 versus the $9.78 average, and last changed hands at $9.74.
• The trust announced a monthly dividend of $0.0628 per share, implying a 7.7% annualized yield; the ex-dividend date is August 17 and payment is scheduled for August 31.
• Institutional investors own approximately 32% of VKQ, with several hedge funds and advisers increasing their positions recently.

Inv Vk Mun Tr (NYSE:VKQ - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.78 and traded as low as $9.73. Inv Vk Mun Tr shares last traded at $9.74, with a volume of 95,443 shares trading hands.

Inv Vk Mun Tr Price Performance

The company's fifty day moving average is $9.87 and its two-hundred day moving average is $9.78.

Inv Vk Mun Tr Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.0628 per share. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Monday, August 17th.

Institutional Trading of Inv Vk Mun Tr

Hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Inv Vk Mun Tr by 55.8% during the 1st quarter. NewEdge Advisors LLC now owns 351,113 shares of the investment management company's stock valued at $3,343,000 after acquiring an additional 125,814 shares during the period. Hennion & Walsh Asset Management Inc. grew 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 purchasing an additional 661,027 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Inv Vk Mun Tr by 3.4% in the second quarter. Oppenheimer & Co. Inc. now owns 51,829 shares of the investment management company's stock valued at $520,000 after buying an additional 1,725 shares in the last quarter. Worth Asset Management LLC acquired a new position in Inv Vk Mun Tr during the second quarter worth $212,000. Finally, Cetera Investment Advisers lifted its holdings in Inv Vk Mun Tr by 26.6% during the first quarter. Cetera Investment Advisers now owns 101,050 shares of the investment management company's stock valued at $962,000 after purchasing an additional 21,227 shares in the last quarter. 32.00% of the stock is owned by hedge funds and other institutional investors.

Inv Vk Mun Tr Company Profile

Invesco Municipal Income Trust NYSE: VKQ is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income tax. The fund pursues its objective by investing primarily in municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities, counties and territories. As a tax-advantaged vehicle, the trust offers investors access to the municipal bond market through a diversified portfolio managed by seasoned fixed income professionals.

The trust generally allocates at least 80% of its assets to investment-grade municipal securities, although it may invest in lower-rated obligations when deemed appropriate by its management team.

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.