Invvlu Mu Incm (NYSE:IIM) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Shares of Invesco Value Municipal Income Trust (NYSE: IIM) rose above their 200-day moving average of $12.54, reaching $12.77 and last trading at $12.76 on volume of 115,398 shares.
• The fund recently paid a monthly dividend of $0.0771 per share, representing an annualized yield of approximately 7.3%.
• Institutional investors increased their positions in IIM, with hedge funds and other institutions collectively owning 20.73% of the company’s stock.

Shares of Invvlu Mu Incm (NYSE:IIM - ) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.54 and traded as high as $12.77. Invvlu Mu Incm shares last traded at $12.76, with a volume of 115,398 shares traded.

Invvlu Mu Incm Stock Performance

The stock's 50-day moving average is $12.69 and its two-hundred day moving average is $12.54.

Invvlu Mu Incm Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a dividend of $0.0771 per share. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend was Monday, August 17th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IIM. Goldman Sachs Group Inc. lifted its position in shares of Invvlu Mu Incm by 4.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 24,713 shares of the investment management company's stock worth $304,000 after buying an additional 1,100 shares in the last quarter. Cetera Investment Advisers grew its holdings in Invvlu Mu Incm by 0.8% during the 4th quarter. Cetera Investment Advisers now owns 157,366 shares of the investment management company's stock valued at $1,939,000 after buying an additional 1,211 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in Invvlu Mu Incm by 11.0% during the 4th quarter. Cornerstone Wealth Management LLC now owns 17,906 shares of the investment management company's stock valued at $221,000 after buying an additional 1,769 shares in the last quarter. Fortitude Advisory Group L.L.C. increased its stake in Invvlu Mu Incm by 7.2% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 28,520 shares of the investment management company's stock worth $363,000 after acquiring an additional 1,920 shares during the last quarter. Finally, Hollencrest Capital Management increased its stake in Invvlu Mu Incm by 12.5% in the 1st quarter. Hollencrest Capital Management now owns 18,180 shares of the investment management company's stock worth $221,000 after acquiring an additional 2,013 shares during the last quarter. Hedge funds and other institutional investors own 20.73% of the company's stock.

About Invvlu Mu Incm

Invesco Value Municipal Income Trust 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.

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