Invesco Municipal Trust (NYSE:VKQ) Sees Significant Increase in Short Interest

Invesco Municipal Trust (NYSE:VKQ) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 172,900 shares, a growth of 334.4% from the August 15th total of 39,800 shares. Based on an average daily volume of 74,300 shares, the days-to-cover ratio is currently 2.3 days.

Shares of VKQ opened at $13.88 on Wednesday. The business’s 50-day moving average price is $13.83 and its 200 day moving average price is $13.54. Invesco Municipal Trust has a 1-year low of $11.86 and a 1-year high of $14.15.

The company also recently declared a monthly dividend, which will be paid on Thursday, September 30th. Investors of record on Tuesday, September 14th will be paid a $0.0524 dividend. The ex-dividend date is Monday, September 13th. This represents a $0.63 annualized dividend and a dividend yield of 4.53%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bramshill Investments LLC increased its position in shares of Invesco Municipal Trust by 10.2% during the second quarter. Bramshill Investments LLC now owns 2,232,359 shares of the investment management company’s stock valued at $30,628,000 after purchasing an additional 207,174 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Invesco Municipal Trust by 407.9% during the second quarter. PNC Financial Services Group Inc. now owns 187,383 shares of the investment management company’s stock worth $2,570,000 after purchasing an additional 150,489 shares during the last quarter. UBS Group AG lifted its stake in shares of Invesco Municipal Trust by 13.5% during the first quarter. UBS Group AG now owns 1,044,467 shares of the investment management company’s stock valued at $13,787,000 after acquiring an additional 124,128 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Invesco Municipal Trust during the first quarter valued at $1,211,000. Finally, Bank of America Corp DE lifted its stake in shares of Invesco Municipal Trust by 36.6% during the second quarter. Bank of America Corp DE now owns 281,598 shares of the investment management company’s stock valued at $3,863,000 after acquiring an additional 75,433 shares during the period. 17.71% of the stock is owned by institutional investors and hedge funds.

About Invesco Municipal Trust

Invesco Municipal Trust operates as a diversified, closed-end management investment company. Its investment objective is to seek to provide a high level of current income exempt from federal income tax consistent with preservation of capital. The company was founded on July 19, 1991 and is headquartered in Atlanta, GA.

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