Inv Vk Mun Tr (NYSE:VKQ) Reaches New 12-Month High – Still a Buy?

Inv Vk Mun Tr (NYSE:VKQ) reached a new 52-week high during mid-day trading on Monday . The company 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 Stock Down 0.0%

The firm has a 50 day moving average of $9.75 and a 200 day moving average of $9.73.

Inv Vk Mun Tr Announces Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.0628 dividend. The ex-dividend date was Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.5%.

Institutional Investors Weigh In On Inv Vk Mun Tr

Several large investors have recently added to or reduced their stakes in VKQ. Advisory Services Network LLC purchased a new stake in Inv Vk Mun Tr during the third quarter valued at about $36,000. Global Retirement Partners LLC purchased a new position in shares of Inv Vk Mun Tr in the fourth quarter worth about $41,000. Perennial Investment Advisors LLC purchased a new position in shares of Inv Vk Mun Tr in the third quarter worth about $107,000. Choreo LLC bought a new stake in shares of Inv Vk Mun Tr in the fourth quarter valued at approximately $124,000. Finally, Osaic Holdings Inc. lifted its stake in shares of Inv Vk Mun Tr by 16.9% during the 2nd quarter. Osaic Holdings Inc. now owns 14,206 shares of the investment management company’s stock valued at $130,000 after buying an additional 2,051 shares in the last quarter. Hedge funds and other institutional investors own 32.00% of the company’s stock.

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.