Invvlu Mu Incm (NYSE:IIM) Reaches New 52-Week High – Here’s Why

Invvlu Mu Incm (NYSE:IIM)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $12.93 and last traded at $12.90, with a volume of 67838 shares changing hands. The stock had previously closed at $12.83.

Invvlu Mu Incm Stock Up 0.4%

The business’s fifty day simple moving average is $12.43 and its 200 day simple moving average is $12.35.

Invvlu Mu Incm Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be issued a $0.0771 dividend. The ex-dividend date is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC bought a new stake in Invvlu Mu Incm in the 4th quarter valued at $41,000. Aventura Private Wealth LLC acquired a new stake in shares of Invvlu Mu Incm in the fourth quarter valued at approximately $43,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Invvlu Mu Incm in the 2nd quarter valued at approximately $50,000. Smartleaf Asset Management LLC bought a new stake in Invvlu Mu Incm in the 3rd quarter valued at $54,000. Finally, Allworth Financial LP boosted its position in shares of Invvlu Mu Incm by 132.6% in the second quarter. Allworth Financial LP now owns 5,323 shares of the investment management company’s stock valued at $62,000 after acquiring an additional 3,035 shares during the period. Institutional investors and hedge funds own 20.73% of the company’s stock.

About Invvlu Mu Incm

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.