Inv Vk Mun Tr (NYSE:VKQ) Sets New 1-Year High – Still a Buy?

Inv Vk Mun Tr (NYSE:VKQGet Free Report)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $10.04 and last traded at $9.8410, with a volume of 525 shares changing hands. The stock had previously closed at $9.84.

Inv Vk Mun Tr Trading Up 0.4%

The company has a 50-day moving average of $9.71 and a 200-day moving average of $9.71.

Inv Vk Mun Tr Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.0628 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date is Monday, June 15th.

Institutional Investors Weigh In On Inv Vk Mun Tr

A number of large investors have recently added to or reduced their stakes in VKQ. Rivernorth Capital Management LLC lifted its holdings in Inv Vk Mun Tr by 31.8% in the 4th quarter. Rivernorth Capital Management LLC now owns 5,768,838 shares of the investment management company’s stock worth $55,669,000 after buying an additional 1,390,317 shares during the period. Guggenheim Capital LLC grew its position in shares of Inv Vk Mun Tr by 0.7% in the 4th quarter. Guggenheim Capital LLC now owns 1,199,525 shares of the investment management company’s stock worth $11,575,000 after buying an additional 8,278 shares during the period. LPL Financial LLC lifted its position in Inv Vk Mun Tr by 15.7% during the 4th quarter. LPL Financial LLC now owns 960,745 shares of the investment management company’s stock valued at $9,271,000 after acquiring an additional 130,288 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Inv Vk Mun Tr by 3.2% during the fourth quarter. Wells Fargo & Company MN now owns 443,647 shares of the investment management company’s stock valued at $4,281,000 after purchasing an additional 13,561 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Inv Vk Mun Tr by 12.3% during the 4th quarter. Van ECK Associates Corp now owns 401,375 shares of the investment management company’s stock valued at $3,873,000 after buying an additional 43,972 shares in the last quarter. Institutional investors own 32.00% of the company’s stock.

About Inv Vk Mun Tr

(Get Free Report)

Invesco Municipal Income Trust (NYSE: VKQ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income tax. The fund pursues its objective by investing primarily in municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities, counties and territories. As a tax-advantaged vehicle, the trust offers investors access to the municipal bond market through a diversified portfolio managed by seasoned fixed income professionals.

The trust generally allocates at least 80% of its assets to investment-grade municipal securities, although it may invest in lower-rated obligations when deemed appropriate by its management team.

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