Short Interest in Invvlu Mu Incm (NYSE:IIM) Grows By 78.1%

Key Points

• Short interest surged 78.1% to 267,493 shares as of July 15, representing approximately 0.6% of IIM’s shares outstanding and 2.8 days to cover.
• IIM shares rose 0.9% to $12.54, trading within a one-year range of $11.33 to $13.17 and near its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0771 per share, implying a 7.4% annualized yield; institutional investors and hedge funds own 20.73% of the stock.

Invvlu Mu Incm (NYSE:IIM - ) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 267,493 shares, an increase of 78.1% from the June 30th total of 150,154 shares. Approximately 0.6% of the company's stock are sold short. Based on an average daily volume of 94,083 shares, the days-to-cover ratio is presently 2.8 days.

Invvlu Mu Incm Trading Up 0.9%

Shares of Invvlu Mu Incm stock traded up $0.12 on Thursday, reaching $12.54. 152,406 shares of the company were exchanged, compared to its average volume of 130,130. Invvlu Mu Incm has a one year low of $11.33 and a one year high of $13.17. The company has a 50-day moving average of $12.60 and a 200 day moving average of $12.51.

Invvlu Mu Incm Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be issued a dividend of $0.0771 per share. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Tuesday, July 14th.

Institutional Trading of Invvlu Mu Incm

Large investors have recently added to or reduced their stakes in the company. Retirement Planning Group LLC bought a new stake in shares of Invvlu Mu Incm in the 1st quarter valued at about $554,000. Wagner Wealth Management LLC lifted its stake in Invvlu Mu Incm by 79.5% in the 4th quarter. Wagner Wealth Management LLC now owns 233,176 shares of the investment management company's stock valued at $2,873,000 after purchasing an additional 103,238 shares during the last quarter. Cetera Investment Advisers grew its holdings in Invvlu Mu Incm by 0.8% during the fourth quarter. Cetera Investment Advisers now owns 157,366 shares of the investment management company's stock worth $1,939,000 after purchasing an additional 1,211 shares during the period. Commonwealth Equity Services LLC increased its position in Invvlu Mu Incm by 6.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 153,548 shares of the investment management company's stock worth $1,892,000 after buying an additional 9,298 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in Invvlu Mu Incm by 21.4% during the fourth quarter. NewEdge Advisors LLC now owns 122,661 shares of the investment management company's stock worth $1,511,000 after buying an additional 21,634 shares during the last quarter. Institutional investors and hedge funds own 20.73% of the company's stock.

Invvlu Mu Incm Company Profile

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.

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.