Short Interest in Inv Vk Tr Inv (NYSE:VGM) Declines By 37.2%

Key Points

• Short interest in VGM fell 37.2% to 273,156 shares as of July 31, representing 0.5% of shares outstanding and a days-to-cover ratio of 1.7.
• Shares declined 0.5% to $10.31, trading near the stock’s 50-day and 200-day moving averages.
• The fund announced a monthly dividend of $0.0646 per share, implying a 7.5% annualized yield; institutional investors and hedge funds own 38.13% of the stock.

Inv Vk Tr Inv (NYSE:VGM - ) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 273,156 shares, a decrease of 37.2% from the July 15th total of 435,171 shares. Based on an average daily volume of 157,513 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.5% of the shares of the stock are sold short.

Inv Vk Tr Inv Stock Down 0.5%

Shares of NYSE VGM traded down $0.06 during midday trading on Tuesday, hitting $10.31. The company had a trading volume of 167,388 shares, compared to its average volume of 182,743. Inv Vk Tr Inv has a twelve month low of $9.48 and a twelve month high of $10.66. The business has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $10.29.

Inv Vk Tr Inv Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.0646 per share. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date is Monday, August 17th.

Institutional Investors Weigh In On Inv Vk Tr Inv

A number of hedge funds and other institutional investors have recently modified their holdings of VGM. Hennion & Walsh Asset Management Inc. grew its holdings in shares of 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 acquiring an additional 269,066 shares during the period. Guggenheim Capital LLC increased its stake in Inv Vk Tr Inv by 5.0% in the 4th quarter. Guggenheim Capital LLC now owns 1,242,714 shares of the investment management company's stock valued at $12,887,000 after purchasing an additional 58,922 shares in the last quarter. LPL Financial LLC raised its holdings in Inv Vk Tr Inv by 12.7% during the fourth quarter. LPL Financial LLC now owns 855,464 shares of the investment management company's stock worth $8,871,000 after purchasing an additional 96,570 shares during the last quarter. UBS Group AG raised its holdings in Inv Vk Tr Inv by 2.8% during the fourth quarter. UBS Group AG now owns 568,689 shares of the investment management company's stock worth $5,897,000 after purchasing an additional 15,267 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Inv Vk Tr Inv by 14.3% during the third quarter. Bank of America Corp DE now owns 495,908 shares of the investment management company's stock worth $5,019,000 after purchasing an additional 61,899 shares in the last quarter. 38.13% of the stock is currently owned by institutional investors and hedge funds.

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.

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