Invesco Bond Fund (VBF) Receives Buy Rating from Deutsche Bank AG
Deutsche Bank AG reiterated their buy rating on shares of Invesco Bond Fund (NYSE:VBF) in a research report report published on Wednesday. The firm currently has a $36.00 price target on the stock, up from their previous price target of $35.00.
Other equities research analysts have also issued research reports about the company. Citigroup Inc. reissued a neutral rating and set a $27.00 price objective (down previously from $38.00) on shares of Invesco Bond Fund in a research note on Monday, June 27th. Barclays PLC reaffirmed an overweight rating and set a $35.00 price target (down previously from $37.00) on shares of Invesco Bond Fund in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Invesco Bond Fund presently has an average rating of Buy and an average target price of $36.38.
Shares of Invesco Bond Fund (NYSE:VBF) traded down 0.527% during midday trading on Wednesday, hitting $19.248. The company had a trading volume of 18,345 shares. Invesco Bond Fund has a 52 week low of $17.46 and a 52 week high of $19.54. The firm’s 50 day moving average is $19.32 and its 200 day moving average is $18.93.
The firm also recently declared a monthly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be issued a dividend of $0.069 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.83 dividend on an annualized basis and a yield of 4.28%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. purchased a new position in Invesco Bond Fund during the second quarter worth $187,000. Gilman Hill Asset Management LLC increased its position in Invesco Bond Fund by 9.1% in the second quarter. Gilman Hill Asset Management LLC now owns 12,000 shares of the company’s stock worth $227,000 after buying an additional 1,000 shares during the period. Raymond James & Associates increased its position in Invesco Bond Fund by 11.8% in the second quarter. Raymond James & Associates now owns 18,982 shares of the company’s stock worth $359,000 after buying an additional 2,000 shares during the period. Laurion Capital Management LP purchased a new position in Invesco Bond Fund during the second quarter worth $475,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Invesco Bond Fund during the second quarter worth $536,000.
Invesco Bond Fund Company Profile
Invesco Bond Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to seek interest income while conserving capital. The Fund invests primarily in fixed-rate the United States investment-grade corporate bonds with flexibility to integrate approximately 20% of its total assets in non-investment-grade, the United States dollar denominated and non-United States dollar denominated securities of foreign issuers (both developed and emerging markets).
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