Inv Vk Mun Tr (NYSE:VKQ) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

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 $8.99 and traded as high as $9.17. Inv Vk Mun Tr shares last traded at $9.1390, with a volume of 173,906 shares trading hands.

Inv Vk Mun Tr Stock Up 2.0%

The company has a fifty day moving average price of $8.99 and a two-hundred day moving average price of $9.58.

Inv Vk Mun Tr Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be paid a $0.0628 dividend. This is a decrease from Inv Vk Mun Tr’s previous monthly dividend of $0.0628. This represents a $0.75 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Monday, November 16th.

Hedge Funds Weigh In On Inv Vk Mun Tr

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VKQ. Global Retirement Partners LLC purchased a new stake in shares of Inv Vk Mun Tr in the 2nd quarter valued at about $74,000. Envestnet Asset Management Inc. bought a new position in shares of Inv Vk Mun Tr during the 2nd quarter worth approximately $139,000. Susquehanna International Group LLP acquired a new stake in shares of Inv Vk Mun Tr during the second quarter worth $139,000. Abel Hall LLC acquired a new position in shares of Inv Vk Mun Tr in the third quarter valued at approximately $127,000. Finally, Fifth Third Bancorp boosted its position in Inv Vk Mun Tr by 14,894.1% in the third quarter. Fifth Third Bancorp now owns 17,693 shares of the investment management company’s stock valued at $150,000 after buying an additional 17,575 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 Trust (NYSE: VKQ) is a closed-end management investment company advised by Invesco Ltd. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in a diversified portfolio of municipal securities.

The trust invests in debt obligations issued by states, municipalities, and other governmental entities. These securities may help finance public projects and services such as transportation, education, utilities, health care, and other essential infrastructure.