Invvlu Mu Incm (NYSE:IIM) Sees Strong Trading Volume – Here’s Why

Invvlu Mu Incm (NYSE:IIM) saw unusually-high trading volume on Wednesday. Approximately 99,959 shares changed hands during trading, a decline of 25% from the previous session’s volume of 133,520 shares. The stock last traded at $10.65 and had previously closed at $10.45.

Invvlu Mu Incm Trading Up 1.9%

The company has a fifty day moving average of $12.29 and a two-hundred day moving average of $12.39.

Invvlu Mu Incm Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be issued a $0.0771 dividend. This represents a $0.93 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Monday, September 14th.

Institutional Trading of Invvlu Mu Incm

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in shares of Invvlu Mu Incm in the 2nd quarter worth approximately $9,075,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Invvlu Mu Incm by 63.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,162,995 shares of the investment management company’s stock valued at $14,805,000 after purchasing an additional 450,450 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Invvlu Mu Incm during the 1st quarter worth about $2,849,000. Retirement Planning Group LLC acquired a new stake in shares of Invvlu Mu Incm during the 1st quarter worth about $554,000. Finally, Wagner Wealth Management LLC grew its holdings in shares of Invvlu Mu Incm by 9.8% during the first quarter. Wagner Wealth Management LLC now owns 256,097 shares of the investment management company’s stock worth $3,114,000 after buying an additional 22,921 shares in the last quarter. 20.73% of the stock is owned by institutional investors and hedge funds.

Invvlu Mu Incm Company Profile

Invesco Value Municipal Income Trust (NYSE: IIM) is a closed-end investment fund managed by Invesco. The fund’s primary objective is to provide current income that is exempt from regular U.S. federal income tax.

The fund invests mainly in municipal securities issued by U.S. states, municipalities and related public entities. Its portfolio may include bonds that finance public infrastructure and other governmental or community projects, with investment results influenced by interest rates, credit conditions and developments in the municipal bond market.

Invesco Advisers, Inc, an affiliate of global investment management firm Invesco Ltd., serves as the fund’s investment adviser.