Inv Vk Pa Valu (NYSE:VPV) Stock Price Breaks Above 200 Day Moving Average - Here's Why

Key Points

• VPV shares rose above their 200-day moving average, reaching $11.34 before last trading at $10.9350, up 1.1% with 53,855 shares traded.
• The fund declared a monthly dividend of $0.0667 per share, equivalent to approximately $0.80 annually and a 7.3% yield.
• Several institutional investors adjusted or initiated positions in VPV, while the closed-end fund continues to focus on tax-exempt Pennsylvania municipal securities and income.

Inv Vk Pa Valu (NYSE:VPV - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.88 and traded as high as $11.34. Inv Vk Pa Valu shares last traded at $10.9350, with a volume of 53,855 shares changing hands.

Inv Vk Pa Valu Stock Up 1.1%

The stock has a 50-day simple moving average of $10.85 and a 200 day simple moving average of $10.88.

Inv Vk Pa Valu Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th were paid a dividend of $0.0667 per share. This is an increase from Inv Vk Pa Valu's previous monthly dividend of $0.0667. This represents a $0.80 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Wednesday, October 14th.

Hedge Funds Weigh In On Inv Vk Pa Valu

A number of hedge funds have recently made changes to their positions in VPV. Bank of America Corp DE grew its holdings in shares of Inv Vk Pa Valu by 1.7% during the first quarter. Bank of America Corp DE now owns 82,028 shares of the financial services provider's stock worth $867,000 after purchasing an additional 1,386 shares during the last quarter. Royal Bank of Canada increased its position in Inv Vk Pa Valu by 26.1% in the 1st quarter. Royal Bank of Canada now owns 22,640 shares of the financial services provider's stock valued at $239,000 after acquiring an additional 4,689 shares during the period. Breakwater Capital Group acquired a new position in Inv Vk Pa Valu in the 3rd quarter valued at approximately $109,000. NewEdge Advisors LLC bought a new position in shares of Inv Vk Pa Valu during the first quarter valued at $236,000. Finally, HighTower Advisors LLC bought a new position in shares of Inv Vk Pa Valu during the second quarter valued at $263,000.

Inv Vk Pa Valu Company Profile

Invesco Pennsylvania Value Municipal Income Trust NYSE: VPV is a closed-end investment fund managed by Invesco Ltd. The fund seeks to provide current income that is exempt from regular federal income tax and Pennsylvania state and local personal income taxes.

The fund invests primarily in municipal securities issued by Pennsylvania municipalities and other governmental entities. Its portfolio may include general obligation bonds, revenue bonds and other tax-exempt obligations used to finance public infrastructure and services.

VPV is designed for investors seeking tax-advantaged income and exposure to the Pennsylvania municipal bond market.

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.