Inv Vk Tr Inv (NYSE:VGM) Reaches New 12-Month Low – Here’s Why

Inv Vk Tr Inv (NYSE:VGM) shares reached a new 52-week low on Tuesday . The company traded as low as $9.57 and last traded at $9.5810, with a volume of 306634 shares. The stock had previously closed at $9.77.

Inv Vk Tr Inv Stock Down 1.9%

The business’s 50 day simple moving average is $10.29 and its 200-day simple moving average is $10.25.

Inv Vk Tr Inv Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 14th will be paid a dividend of $0.0646 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%.

Hedge Funds Weigh In On Inv Vk Tr Inv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its stake in shares of Inv Vk Tr Inv by 96.2% in the 2nd quarter. NewEdge Advisors LLC now owns 136,864 shares of the investment management company’s stock valued at $1,451,000 after acquiring an additional 67,094 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Inv Vk Tr Inv by 9.6% during the second quarter. Baird Financial Group Inc. now owns 56,200 shares of the investment management company’s stock valued at $596,000 after purchasing an additional 4,935 shares during the period. Concurrent Investment Advisors LLC increased its stake in Inv Vk Tr Inv by 12.2% in the second quarter. Concurrent Investment Advisors LLC now owns 13,826 shares of the investment management company’s stock valued at $147,000 after purchasing an additional 1,500 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Inv Vk Tr Inv in the second quarter valued at approximately $127,000. Finally, Van ECK Associates Corp raised its holdings in Inv Vk Tr Inv by 13.4% in the second quarter. Van ECK Associates Corp now owns 355,063 shares of the investment management company’s stock worth $3,764,000 after purchasing an additional 42,019 shares during the period. Institutional investors own 38.13% of the company’s stock.

About Inv Vk Tr Inv

Invesco Trust for Investment Grade Municipals is a closed-end management investment company listed on the New York Stock Exchange under the symbol VGM. The fund is designed to provide investors with a high level of current income that is generally exempt from regular U.S. federal income tax.

The fund invests primarily in municipal securities issued by states, counties, cities and other governmental entities, as well as related public authorities. Its portfolio focuses on investment-grade municipal bonds and may include securities financing public services and infrastructure such as transportation, education, utilities and health care.

VGM is advised by Invesco, a global investment management firm.