Invesco Bond Fund (VBF) Receives Hold Rating from Deutsche Bank AG
Deutsche Bank AG reiterated their hold rating on shares of Invesco Bond Fund (NYSE:VBF) in a report issued on Saturday. Deutsche Bank AG currently has a $32.00 price objective on the stock, down from their previous price objective of $36.00.
Several other analysts have also issued reports on VBF. Barclays PLC reaffirmed an overweight rating and issued a $35.00 target price (down previously from $37.00) on shares of Invesco Bond Fund in a research note on Thursday, July 7th. Citigroup Inc. reiterated a neutral rating and issued a $27.00 price objective (down previously from $38.00) on shares of Invesco Bond Fund in a research report on Monday, June 27th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $35.88.
Invesco Bond Fund (NYSE:VBF) traded down 0.05% during mid-day trading on Friday, reaching $19.05. 43,180 shares of the company traded hands. The company’s 50-day moving average is $19.29 and its 200-day moving average is $18.97. Invesco Bond Fund has a 12-month low of $17.46 and a 12-month high of $19.54.
The firm also recently announced 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 is Wednesday, October 12th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.36%.
Institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. increased its position in shares of Invesco Bond Fund by 12.4% in the second quarter. Sit Investment Associates Inc. now owns 300,385 shares of the company’s stock worth $5,674,000 after buying an additional 33,066 shares in the last quarter. SeaBridge Investment Advisors LLC increased its position in shares of Invesco Bond Fund by 5.3% in the second quarter. SeaBridge Investment Advisors LLC now owns 81,470 shares of the company’s stock worth $1,539,000 after buying an additional 4,100 shares in the last quarter. Shaker Financial Services LLC acquired a new position in shares of Invesco Bond Fund during the second quarter worth approximately $718,000. Landscape Capital Management L.L.C. acquired a new position in shares of Invesco Bond Fund during the second quarter worth approximately $536,000. Finally, Laurion Capital Management LP acquired a new position in shares of Invesco Bond Fund during the second quarter worth approximately $475,000.
About Invesco Bond Fund
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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