Saba Capital Management, L.P. Purchases 13,333 Shares of Invesco Pennsylvania Value Municipal Income Trust (NYSE:VPV) Stock

Posted by Tristan Rich on Apr 15th, 2024

Invesco Pennsylvania Value Municipal Income Trust (NYSE:VPV – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 13,333 shares of Invesco Pennsylvania Value Municipal Income Trust stock in a transaction on Friday, April 12th. The shares were purchased at an average cost of $10.01 per share, with a total value of $133,463.33. Following the completion of the purchase, the insider now directly owns 2,839,728 shares of the company’s stock, valued at approximately $28,425,677.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Monday, April 15th, Saba Capital Management, L.P. bought 2,973 shares of Invesco Pennsylvania Value Municipal Income Trust stock. The stock was acquired at an average price of $9.94 per share, for a total transaction of $29,551.62.
On Tuesday, March 19th, Saba Capital Management, L.P. bought 11,342 shares of Invesco Pennsylvania Value Municipal Income Trust stock. The stock was acquired at an average price of $10.21 per share, for a total transaction of $115,801.82.
On Monday, March 11th, Saba Capital Management, L.P. bought 10,373 shares of Invesco Pennsylvania Value Municipal Income Trust stock. The stock was acquired at an average price of $10.22 per share, for a total transaction of $106,012.06.
On Thursday, March 7th, Saba Capital Management, L.P. bought 27,652 shares of Invesco Pennsylvania Value Municipal Income Trust stock. The stock was acquired at an average price of $10.15 per share, for a total transaction of $280,667.80.
On Tuesday, January 16th, Saba Capital Management, L.P. bought 100 shares of Invesco Pennsylvania Value Municipal Income Trust stock. The stock was acquired at an average price of $10.10 per share, for a total transaction of $1,010.00.

Invesco Pennsylvania Value Municipal Income Trust Price Performance

Shares of VPV traded down $0.03 during trading hours on Monday, reaching $9.94. The company’s stock had a trading volume of 36,074 shares, compared to its average volume of 32,384. Invesco Pennsylvania Value Municipal Income Trust has a 1-year low of $8.58 and a 1-year high of $10.28. The company has a 50 day moving average of $10.15 and a two-hundred day moving average of $9.75.

Invesco Pennsylvania Value Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be issued a $0.0325 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $0.39 dividend on an annualized basis and a yield of 3.92%.

Hedge Funds Weigh In On Invesco Pennsylvania Value Municipal Income Trust

A number of hedge funds have recently added to or reduced their stakes in VPV. Saba Capital Management L.P. increased its holdings in Invesco Pennsylvania Value Municipal Income Trust by 59.7% in the third quarter. Saba Capital Management L.P. now owns 2,114,078 shares of the financial services provider’s stock worth $18,921,000 after buying an additional 790,187 shares during the last quarter. Logan Stone Capital LLC grew its holdings in Invesco Pennsylvania Value Municipal Income Trust by 742.3% during the fourth quarter. Logan Stone Capital LLC now owns 131,746 shares of the financial services provider’s stock valued at $1,291,000 after purchasing an additional 116,105 shares during the last quarter. UBS Group AG grew its holdings in Invesco Pennsylvania Value Municipal Income Trust by 1,077.3% during the fourth quarter. UBS Group AG now owns 115,421 shares of the financial services provider’s stock valued at $1,131,000 after purchasing an additional 105,617 shares during the last quarter. Karpus Management Inc. grew its holdings in Invesco Pennsylvania Value Municipal Income Trust by 274.4% during the fourth quarter. Karpus Management Inc. now owns 118,926 shares of the financial services provider’s stock valued at $1,189,000 after purchasing an additional 87,164 shares during the last quarter. Finally, Rivernorth Capital Management LLC acquired a new position in Invesco Pennsylvania Value Municipal Income Trust during the second quarter valued at approximately $711,000.

Invesco Pennsylvania Value Municipal Income Trust Company Profile

(Get Free Report)

Invesco Pennsylvania 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.