Invesco Trust for Investment Grade Municipals (NYSE:VGM) Sees Large Growth in Short Interest

Invesco Trust for Investment Grade Municipals (NYSE:VGM - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 233,900 shares, an increase of 610.9% from the May 15th total of 32,900 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 250,900 shares, the short-interest ratio is currently 0.9 days.

Invesco Trust for Investment Grade Municipals Price Performance

Shares of NYSE:VGM traded down $0.04 on Friday, hitting $9.48. The company had a trading volume of 229,805 shares, compared to its average volume of 188,682. Invesco Trust for Investment Grade Municipals has a 1-year low of $9.28 and a 1-year high of $10.70. The stock has a 50 day moving average price of $9.58 and a 200 day moving average price of $9.93.

Invesco Trust for Investment Grade Municipals Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $0.0646 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.78 annualized dividend and a dividend yield of 8.18%.

Hedge Funds Weigh In On Invesco Trust for Investment Grade Municipals

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Invesco Trust for Investment Grade Municipals by 57.4% in the fourth quarter. Bank of America Corp DE now owns 329,178 shares of the investment management company's stock valued at $3,325,000 after purchasing an additional 120,024 shares during the last quarter. Pathstone Holdings LLC increased its holdings in shares of Invesco Trust for Investment Grade Municipals by 45.6% in the fourth quarter. Pathstone Holdings LLC now owns 1,112,444 shares of the investment management company's stock valued at $11,247,000 after purchasing an additional 348,153 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Invesco Trust for Investment Grade Municipals by 3.1% in the fourth quarter. Van ECK Associates Corp now owns 406,392 shares of the investment management company's stock valued at $4,105,000 after acquiring an additional 12,316 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Invesco Trust for Investment Grade Municipals by 159.5% in the fourth quarter. Nuveen Asset Management LLC now owns 35,973 shares of the investment management company's stock valued at $363,000 after acquiring an additional 22,109 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Invesco Trust for Investment Grade Municipals by 24.4% in the fourth quarter. Cetera Investment Advisers now owns 21,177 shares of the investment management company's stock valued at $214,000 after acquiring an additional 4,154 shares in the last quarter. 38.13% of the stock is currently owned by institutional investors and hedge funds.

About Invesco Trust for Investment Grade Municipals

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.