Inv Vk Mun Tr (NYSE:VKQ) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Inv Vk Mun Tr (NYSE:VKQ) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $9.64 and traded as high as $9.70. Inv Vk Mun Tr shares last traded at $9.6750, with a volume of 151,554 shares trading hands.

Inv Vk Mun Tr Stock Up 0.3%

The business’s 50 day moving average is $9.64 and its two-hundred day moving average is $9.42.

Inv Vk Mun Tr Announces Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $0.0628 dividend. The ex-dividend date was Tuesday, December 16th. This represents a c) annualized dividend and a yield of 7.8%.

Insider Activity

In other news, Portfolio Manager Timothy M. O’reilly purchased 5,200 shares of the stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average cost of $9.62 per share, with a total value of $50,024.00. Following the completion of the acquisition, the portfolio manager owned 10,747 shares in the company, valued at $103,386.14. This represents a 93.74% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in Inv Vk Mun Tr during the 3rd quarter valued at about $36,000. Trust Co. of Toledo NA OH bought a new position in shares of Inv Vk Mun Tr in the second quarter worth approximately $38,000. Wolverine Asset Management LLC purchased a new stake in shares of Inv Vk Mun Tr during the second quarter valued at approximately $80,000. Perennial Investment Advisors LLC bought a new stake in shares of Inv Vk Mun Tr during the third quarter valued at approximately $107,000. Finally, Osaic Holdings Inc. raised its holdings in Inv Vk Mun Tr by 16.9% in the 2nd quarter. Osaic Holdings Inc. now owns 14,206 shares of the investment management company’s stock worth $130,000 after acquiring an additional 2,051 shares during the last quarter. 32.00% of the stock is currently owned by hedge funds and other institutional investors.

Inv Vk Mun Tr Company Profile

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.