Invesco Advantage Municipal Income Trust II (NYSEAMERICAN:VKI – Get Free Report) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 39,208 shares, a drop of 14.8% from the March 31st total of 46,040 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 138,387 shares, the days-to-cover ratio is currently 0.3 days.
Insider Activity at Invesco Advantage Municipal Income Trust II
In other news, major shareholder Of America Corp /De/ Bank purchased 3,359 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was purchased at an average cost of $8.68 per share, with a total value of $29,156.12. Following the purchase, the insider owned 3,359 shares in the company, valued at approximately $29,156.12. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.45% of the company’s stock.
Hedge Funds Weigh In On Invesco Advantage Municipal Income Trust II
Several hedge funds have recently bought and sold shares of VKI. Royal Bank of Canada increased its stake in Invesco Advantage Municipal Income Trust II by 15.9% in the first quarter. Royal Bank of Canada now owns 35,040 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 4,811 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Invesco Advantage Municipal Income Trust II by 12.2% during the second quarter. Raymond James Financial Inc. now owns 129,654 shares of the financial services provider’s stock valued at $1,085,000 after purchasing an additional 14,070 shares during the period. Bank of America Corp DE grew its holdings in shares of Invesco Advantage Municipal Income Trust II by 17.1% in the second quarter. Bank of America Corp DE now owns 703,205 shares of the financial services provider’s stock worth $5,886,000 after purchasing an additional 102,596 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Invesco Advantage Municipal Income Trust II by 41.2% in the second quarter. Geneos Wealth Management Inc. now owns 18,379 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 5,362 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Invesco Advantage Municipal Income Trust II by 26.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 602,604 shares of the financial services provider’s stock worth $5,285,000 after buying an additional 127,491 shares during the period. Institutional investors own 27.52% of the company’s stock.
Invesco Advantage Municipal Income Trust II Price Performance
Invesco Advantage Municipal Income Trust II Dividend Announcement
The firm also recently declared a monthly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, April 14th were paid a dividend of $0.0559 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Tuesday, April 14th.
About Invesco Advantage Municipal Income Trust II
Invesco Advantage Municipal Income Trust II (NYSEAMERICAN: VKI) is a closed-end management investment company that primarily seeks to provide shareholders with high after-tax total return. The fund pursues its objective by investing predominantly in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities and other political subdivisions.
The fund’s investment strategy emphasizes credit quality and income generation, with portfolio managers conducting in-depth credit analysis to identify opportunities across various sectors—such as transportation, education and healthcare—that offer attractive tax-exempt yields.
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