Invvlu Mu Incm (NYSE:IIM) Reaches New 12-Month Low – Here’s Why

Invvlu Mu Incm (NYSE:IIM) shares hit a new 52-week low during trading on Tuesday. The stock traded as low as $10.51 and last traded at $10.6120, with a volume of 553271 shares changing hands. The stock had previously closed at $11.00.

Invvlu Mu Incm Stock Up 1.1%

The business has a 50 day simple moving average of $12.25 and a 200 day simple moving average of $12.37.

Invvlu Mu Incm Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 14th were paid a $0.0771 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.93 dividend on an annualized basis and a dividend yield of 8.8%.

Institutional Trading of Invvlu Mu Incm

Several hedge funds and other institutional investors have recently bought and sold shares of IIM. Fortitude Advisory Group L.L.C. increased its stake in shares of Invvlu Mu Incm by 7.2% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 28,520 shares of the investment management company’s stock valued at $363,000 after purchasing an additional 1,920 shares in the last quarter. Hollencrest Capital Management boosted its position in Invvlu Mu Incm by 12.5% during the first quarter. Hollencrest Capital Management now owns 18,180 shares of the investment management company’s stock worth $221,000 after purchasing an additional 2,013 shares in the last quarter. Allworth Financial LP purchased a new position in Invvlu Mu Incm during the second quarter worth approximately $34,000. Concurrent Investment Advisors LLC grew its holdings in Invvlu Mu Incm by 24.6% in the second quarter. Concurrent Investment Advisors LLC now owns 30,431 shares of the investment management company’s stock valued at $387,000 after purchasing an additional 6,000 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Invvlu Mu Incm by 2.8% in the second quarter. Van ECK Associates Corp now owns 269,300 shares of the investment management company’s stock valued at $3,428,000 after purchasing an additional 7,307 shares during the period. 20.73% of the stock is owned by institutional investors and hedge funds.

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.