Inv Vk Mun Tr (NYSE:VKQ) Hits New 52-Week High – Still a Buy?

Inv Vk Mun Tr (NYSE:VKQ) shares hit a new 52-week high during trading on Thursday . The company traded as high as $10.13 and last traded at $9.8450, with a volume of 405 shares. The stock had previously closed at $9.83.

Inv Vk Mun Tr Stock Performance

The business has a fifty day simple moving average of $9.70 and a two-hundred day simple moving average of $9.70.

Inv Vk Mun Tr Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.0628 dividend. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Monday, June 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Melfa Wealth Management Inc. raised its position in Inv Vk Mun Tr by 6.4% in the 4th quarter. Melfa Wealth Management Inc. now owns 33,542 shares of the investment management company’s stock valued at $324,000 after purchasing an additional 2,027 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Inv Vk Mun Tr by 16.9% in the second quarter. Osaic Holdings Inc. now owns 14,206 shares of the investment management company’s stock valued at $130,000 after buying an additional 2,051 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Inv Vk Mun Tr by 4.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 49,484 shares of the investment management company’s stock valued at $478,000 after buying an additional 2,200 shares in the last quarter. Madison Park Capital Advisors LLC raised its holdings in shares of Inv Vk Mun Tr by 6.2% in the first quarter. Madison Park Capital Advisors LLC now owns 45,236 shares of the investment management company’s stock valued at $431,000 after buying an additional 2,628 shares during the last quarter. Finally, World Investment Advisors lifted its position in Inv Vk Mun Tr by 11.0% during the 1st quarter. World Investment Advisors now owns 27,269 shares of the investment management company’s stock worth $260,000 after buying an additional 2,710 shares in the last quarter. 32.00% of the stock is owned by institutional investors.

About Inv Vk Mun Tr

Invesco Municipal Income Trust (NYSE: VKQ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income tax. The fund pursues its objective by investing primarily in municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities, counties and territories. As a tax-advantaged vehicle, the trust offers investors access to the municipal bond market through a diversified portfolio managed by seasoned fixed income professionals.

The trust generally allocates at least 80% of its assets to investment-grade municipal securities, although it may invest in lower-rated obligations when deemed appropriate by its management team.