Inv Vk Mun Tr (NYSE:VKQ) Sets New 52-Week High – Still a Buy?

Inv Vk Mun Tr (NYSE:VKQ)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.09 and last traded at $9.9740, with a volume of 1653 shares traded. The stock had previously closed at $9.96.

Inv Vk Mun Tr Trading Up 0.2%

The company’s 50-day moving average price is $9.74 and its two-hundred day moving average price is $9.73.

Inv Vk Mun Tr Dividend Announcement

The company 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 $0.0628 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.6%.

Institutional Investors Weigh In On Inv Vk Mun Tr

Hedge funds have recently made changes to their positions in the company. Smith Moore & CO. lifted its position in Inv Vk Mun Tr by 59.4% during the third quarter. Smith Moore & CO. now owns 165,652 shares of the investment management company’s stock valued at $1,599,000 after buying an additional 61,742 shares during the period. Royal Bank of Canada grew its stake in shares of Inv Vk Mun Tr by 10.2% in the 1st quarter. Royal Bank of Canada now owns 85,870 shares of the investment management company’s stock worth $817,000 after buying an additional 7,972 shares during the last quarter. Cetera Investment Advisers increased its position in Inv Vk Mun Tr by 26.6% during the 1st quarter. Cetera Investment Advisers now owns 101,050 shares of the investment management company’s stock valued at $962,000 after buying an additional 21,227 shares in the last quarter. NewEdge Advisors LLC raised its stake in Inv Vk Mun Tr by 55.8% during the first quarter. NewEdge Advisors LLC now owns 351,113 shares of the investment management company’s stock valued at $3,343,000 after buying an additional 125,814 shares during the last quarter. Finally, Madison Park Capital Advisors LLC boosted its holdings in Inv Vk Mun Tr by 6.2% in the first quarter. Madison Park Capital Advisors LLC now owns 45,236 shares of the investment management company’s stock worth $431,000 after acquiring an additional 2,628 shares in the last quarter. 32.00% of the stock is currently owned by institutional investors.

About Inv Vk Mun Tr

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.