Inv Vk Tr Inv (NYSE:VGM) Shares Break Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• VGM shares fell below their 200-day moving average of $10.03, reaching an intraday low of $9.08 and last trading at $9.1120 on volume of 184,482 shares.
• The fund declared a monthly dividend of $0.0646 per share, equating to $0.78 annually and an 8.5% yield; the dividend is payable October 30 to shareholders of record October 14.
• Institutional investors own 38.13% of VGM, with several hedge funds recently initiating or increasing positions, including NewEdge Advisors, which raised its holdings by 96.2%.

Inv Vk Tr Inv (NYSE:VGM - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.03 and traded as low as $9.08. Inv Vk Tr Inv shares last traded at $9.1120, with a volume of 184,482 shares trading hands.

Inv Vk Tr Inv Stock Up 0.4%

The company has a fifty day simple moving average of $9.56 and a 200-day simple moving average of $10.03.

Inv Vk Tr Inv Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.0646 per share. This represents a $0.78 annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend is Wednesday, October 14th. This is a positive change from Inv Vk Tr Inv's previous monthly dividend of $0.0646.

Institutional Investors Weigh In On Inv Vk Tr Inv

Hedge funds have recently modified their holdings of the company. Abel Hall LLC acquired a new stake in Inv Vk Tr Inv during the third quarter worth about $130,000. LexAurum Advisors LLC boosted its holdings in Inv Vk Tr Inv by 2.0% in the 3rd quarter. LexAurum Advisors LLC now owns 57,100 shares of the investment management company's stock valued at $494,000 after purchasing an additional 1,124 shares during the last quarter. Private Client Services LLC acquired a new position in Inv Vk Tr Inv in the 3rd quarter valued at about $100,000. NewEdge Advisors LLC boosted its holdings in Inv Vk Tr Inv by 96.2% in the 2nd quarter. NewEdge Advisors LLC now owns 136,864 shares of the investment management company's stock valued at $1,451,000 after purchasing an additional 67,094 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Inv Vk Tr Inv by 9.6% in the 2nd quarter. Baird Financial Group Inc. now owns 56,200 shares of the investment management company's stock valued at $596,000 after purchasing an additional 4,935 shares during the last quarter. Hedge funds and other institutional investors own 38.13% of the company's stock.

About Inv Vk Tr Inv

Invesco Trust for Investment Grade Municipals is a closed-end investment company listed on the New York Stock Exchange under the symbol VGM. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in investment-grade municipal securities.

The fund's portfolio may include bonds issued by state and local governments, public authorities and other qualifying municipal entities across the United States. These securities generally finance public infrastructure and services such as schools, transportation systems, utilities and healthcare facilities.

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

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