Inv Vk Tr Inv (NYSE:VGM) Stock Price Crosses Below 200 Day Moving Average - Should You Sell?

Key Points

• VGM shares fell below their 200-day moving average of $10.29, trading as low as $10.25 before closing at $10.28 on volume of 103,929 shares.
• The fund declared a monthly dividend of $0.0646 per share, payable August 31 to shareholders of record August 17. The payment represents a 7.5% annualized yield.
• Institutional investors own 38.13% of the fund, with several major holders—including Hennion & Walsh, Bank of America, and Cetera Investment Advisers—recently increasing their positions.

Shares of Inv Vk Tr Inv (NYSE:VGM - ) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.29 and traded as low as $10.25. Inv Vk Tr Inv shares last traded at $10.28, with a volume of 103,929 shares trading hands.

Inv Vk Tr Inv Stock Up 0.2%

The company's fifty day moving average is $10.39 and its 200-day moving average is $10.29.

Inv Vk Tr Inv Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.0646 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in Inv Vk Tr Inv by 27.5% in 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 buying an additional 269,066 shares during the period. LPL Financial LLC lifted its position in shares of Inv Vk Tr Inv by 12.7% in the fourth quarter. LPL Financial LLC now owns 855,464 shares of the investment management company's stock valued at $8,871,000 after acquiring an additional 96,570 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Inv Vk Tr Inv by 28.1% in the second quarter. Bank of America Corp DE now owns 434,009 shares of the investment management company's stock worth $4,119,000 after acquiring an additional 95,282 shares during the period. Cetera Investment Advisers grew its position in shares of Inv Vk Tr Inv by 46.0% during the first quarter. Cetera Investment Advisers now owns 187,141 shares of the investment management company's stock worth $1,847,000 after purchasing an additional 58,961 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of Inv Vk Tr Inv by 5.0% during the fourth quarter. Guggenheim Capital LLC now owns 1,242,714 shares of the investment management company's stock worth $12,887,000 after purchasing an additional 58,922 shares in 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-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source