Inv Vk Tr Inv (NYSE:VGM) Reaches New 12-Month Low - Time to Sell?

Key Points

• VGM reached a new 52-week low, falling to $9.55 before last trading at $9.57, below its 50-day and 200-day moving averages of roughly $10.19 and $10.22.
• The fund declared a monthly dividend of $0.0646 per share, implying an annualized yield of approximately 8.1%; the payment is scheduled for September 30 to shareholders of record on September 14.
• Institutional ownership stands at 38.13%, with several major investors—including Hennion & Walsh, VanECK and Melone Private Wealth—recently increasing their positions. VGM is a closed-end fund focused primarily on investment-grade municipal bonds and tax-exempt income.

Inv Vk Tr Inv (NYSE:VGM - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $9.55 and last traded at $9.57, with a volume of 186475 shares trading hands. The stock had previously closed at $9.65.

Inv Vk Tr Inv Stock Performance

The firm has a 50 day simple moving average of $10.19 and a 200-day simple moving average of $10.22.

Inv Vk Tr Inv Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.0646 per share. This represents a c) annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Monday, September 14th.

Institutional Investors Weigh In On Inv Vk Tr Inv

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. grew its holdings in Inv Vk Tr Inv by 27.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,247,281 shares of the investment management company's stock worth $13,221,000 after acquiring an additional 269,066 shares during the last quarter. Bank of America Corp DE raised its position in Inv Vk Tr Inv by 3.9% in the 1st quarter. Bank of America Corp DE now owns 493,823 shares of the investment management company's stock worth $4,874,000 after purchasing an additional 18,626 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Inv Vk Tr Inv by 13.4% during the 2nd quarter. Van ECK Associates Corp now owns 355,063 shares of the investment management company's stock worth $3,764,000 after buying an additional 42,019 shares in the last quarter. Royal Bank of Canada boosted its position in Inv Vk Tr Inv by 6.4% in the 1st quarter. Royal Bank of Canada now owns 366,523 shares of the investment management company's stock valued at $3,618,000 after buying an additional 22,208 shares during the last quarter. Finally, Melone Private Wealth LLC increased its stake in shares of Inv Vk Tr Inv by 33.6% in the 2nd quarter. Melone Private Wealth LLC now owns 231,002 shares of the investment management company's stock valued at $2,449,000 after buying an additional 58,143 shares during the period. 38.13% of the stock is owned by institutional investors and hedge funds.

About Inv Vk Tr Inv

Invesco Trust for Investment Grade Municipals is a closed-end management investment company listed on the New York Stock Exchange under the symbol VGM. The fund is designed to provide investors with a high level of current income that is generally exempt from regular U.S. federal income tax.

The fund invests primarily in municipal securities issued by states, counties, cities and other governmental entities, as well as related public authorities. Its portfolio focuses on investment-grade municipal bonds and may include securities financing public services and infrastructure such as transportation, education, utilities and health care.

VGM is advised by Invesco, a global investment management firm.

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