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

Invvlu Mu Incm (NYSE:IIM) shares saw an uptick in trading volume on Wednesday. 99,959 shares traded hands during mid-day 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 business has a 50 day simple moving average of $12.29 and a two-hundred day simple moving average of $12.39.

Invvlu Mu Incm Dividend Announcement

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

Institutional Investors Weigh In On Invvlu Mu Incm

A number of institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its holdings in shares of Invvlu Mu Incm by 8.2% in the 2nd quarter. NewEdge Advisors LLC now owns 117,649 shares of the investment management company’s stock valued at $1,498,000 after purchasing an additional 8,961 shares during the last quarter. Fortitude Advisory Group L.L.C. increased its holdings in shares of Invvlu Mu Incm by 7.2% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 28,520 shares of the investment management company’s stock worth $363,000 after buying an additional 1,920 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Invvlu Mu Incm by 24.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 30,431 shares of the investment management company’s stock worth $387,000 after buying an additional 6,000 shares during the period. Susquehanna International Group LLP purchased a new position in shares of Invvlu Mu Incm in the 2nd quarter worth $146,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Invvlu Mu Incm by 136.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 18,044 shares of the investment management company’s stock valued at $230,000 after acquiring an additional 10,409 shares during the period. 20.73% of the stock is currently owned by hedge funds and other institutional investors.

About Invvlu Mu Incm

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.