Analysts Set Invesco Bond Fund (VBF) Target Price at $33.60
Invesco Bond Fund (NYSE:VBF) has been assigned a consensus recommendation of “Buy” from the five research firms that are currently covering the firm. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $33.60.
Separately, Deutsche Bank AG reissued a “hold” rating and set a $32.00 target price (down from $36.00) on shares of Invesco Bond Fund in a report on Saturday, October 15th.
Shares of Invesco Bond Fund (NYSE:VBF) opened at 18.10 on Friday. Invesco Bond Fund has a 12-month low of $17.46 and a 12-month high of $19.54. The firm has a 50-day moving average of $19.18 and a 200 day moving average of $19.08.
The company also recently declared a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 14th will be given a $0.069 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.57%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sit Investment Associates Inc. increased its position in shares of Invesco Bond Fund by 30.0% in the third quarter. Sit Investment Associates Inc. now owns 390,446 shares of the company’s stock worth $7,555,000 after buying an additional 90,061 shares during the period. Morgan Stanley increased its position in shares of Invesco Bond Fund by 4.5% in the third quarter. Morgan Stanley now owns 243,462 shares of the company’s stock worth $4,711,000 after buying an additional 10,553 shares during the period. 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 during the period. Shaker Financial Services LLC purchased a new position in shares of Invesco Bond Fund during the second quarter worth about $718,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Invesco Bond Fund during the second quarter worth about $536,000.
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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