Inv Vk Mun Tr (NYSE:VKQ) Reaches New 1-Year High – Should You Buy?

Shares of Inv Vk Mun Tr (NYSE:VKQ) reached a new 52-week high during trading on Tuesday . The stock traded as high as $10.02 and last traded at $9.8910, with a volume of 603 shares. The stock had previously closed at $9.90.

Inv Vk Mun Tr Trading Up 0.4%

The business’s fifty day moving average is $9.73 and its two-hundred day moving average is $9.72.

Inv Vk Mun Tr Announces Dividend

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

Institutional Trading of Inv Vk Mun Tr

Large investors have recently modified their holdings of the company. Smith Moore & CO. increased its holdings in Inv Vk Mun Tr by 59.4% during the 3rd quarter. Smith Moore & CO. now owns 165,652 shares of the investment management company’s stock worth $1,599,000 after purchasing an additional 61,742 shares during the period. Madison Park Capital Advisors LLC lifted its holdings in shares of Inv Vk Mun Tr by 6.2% in the 1st quarter. Madison Park Capital Advisors LLC now owns 45,236 shares of the investment management company’s stock worth $431,000 after buying an additional 2,628 shares during the period. World Investment Advisors bought a new position in shares of Inv Vk Mun Tr during the 4th quarter worth $237,000. Concorde Asset Management LLC grew its position in shares of Inv Vk Mun Tr by 8.5% during the 4th quarter. Concorde Asset Management LLC now owns 81,759 shares of the investment management company’s stock worth $789,000 after buying an additional 6,393 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Inv Vk Mun Tr by 11.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 33,153 shares of the investment management company’s stock valued at $320,000 after buying an additional 3,349 shares during the period. Hedge funds and other institutional investors own 32.00% of the company’s stock.

Inv Vk Mun Tr Company Profile

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.