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

Inv Vk Mun Tr (NYSE:VKQ)’s stock price 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 firm’s fifty day moving average price is $8.99 and its 200-day moving average price is $9.58.

Inv Vk Mun Tr Cuts Dividend

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

Institutional Investors Weigh In On Inv Vk Mun Tr

A number of hedge funds have recently modified their holdings of VKQ. Hennion & Walsh Asset Management Inc. grew its stake in shares of Inv Vk Mun Tr by 236.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 940,068 shares of the investment management company’s stock worth $9,438,000 after purchasing an additional 661,027 shares during the period. NewEdge Advisors LLC raised its holdings in Inv Vk Mun Tr by 55.8% during the 1st quarter. NewEdge Advisors LLC now owns 351,113 shares of the investment management company’s stock worth $3,343,000 after buying an additional 125,814 shares during the period. Bank of America Corp DE grew its position in shares of Inv Vk Mun Tr by 12.4% in the first quarter. Bank of America Corp DE now owns 228,050 shares of the investment management company’s stock valued at $2,171,000 after purchasing an additional 25,246 shares during the last quarter. Citadel Advisors LLC acquired a new position in Inv Vk Mun Tr in the second quarter valued at approximately $242,000. Finally, Cetera Investment Advisers lifted its holdings in Inv Vk Mun Tr by 26.6% during the 1st quarter. Cetera Investment Advisers now owns 101,050 shares of the investment management company’s stock worth $962,000 after purchasing an additional 21,227 shares in the last quarter. 32.00% of the stock is currently owned by institutional investors and hedge funds.

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.