Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) Increases Dividend to $0.07 Per Share

Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) announced a monthly dividend on Friday, May 24th, Wall Street Journal reports. Shareholders of record on Tuesday, June 18th will be paid a dividend of 0.0685 per share by the investment management company on Friday, June 28th. This represents a $0.82 annualized dividend and a yield of 7.43%. The ex-dividend date is Tuesday, June 18th. This is a boost from Invesco Trust for Investment Grade New York Municipals’s previous monthly dividend of $0.04.

Invesco Trust for Investment Grade New York Municipals has decreased its dividend payment by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years.

Invesco Trust for Investment Grade New York Municipals Trading Up 4.6 %

NYSE:VTN traded up $0.49 during mid-day trading on Friday, hitting $11.07. 247,658 shares of the company’s stock traded hands, compared to its average volume of 39,691. The company has a fifty day moving average of $10.61 and a 200 day moving average of $10.41. Invesco Trust for Investment Grade New York Municipals has a twelve month low of $8.49 and a twelve month high of $11.09.

Insider Transactions at Invesco Trust for Investment Grade New York Municipals

In other news, major shareholder Saba Capital Management, L.P. bought 12,890 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price of $10.63 per share, with a total value of $137,020.70. Following the completion of the acquisition, the insider now directly owns 2,754,279 shares of the company’s stock, valued at approximately $29,277,985.77. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Invesco Trust for Investment Grade New York Municipals Company Profile

Invesco Trust for Investment Grade New York Municipals 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.