Inv Vk Tr Inv (NYSE:VGM) Hits New 1-Year Low – Should You Sell?

Inv Vk Tr Inv (NYSE:VGM) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $9.57 and last traded at $9.5810, with a volume of 306634 shares traded. The stock had previously closed at $9.77.

Inv Vk Tr Inv Price Performance

The stock has a 50-day moving average of $10.25 and a two-hundred day moving average of $10.24.

Inv Vk Tr Inv Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be issued a $0.0646 dividend. This represents a c) annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Monday, September 14th.

Institutional Investors Weigh In On Inv Vk Tr Inv

A number of large investors have recently made changes to their positions in VGM. Hennion & Walsh Asset Management Inc. grew its position in Inv Vk Tr Inv by 27.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,247,281 shares of the investment management company’s stock worth $13,221,000 after purchasing an additional 269,066 shares in the last quarter. UBS Group AG grew its holdings in shares of Inv Vk Tr Inv by 2.8% during the fourth quarter. UBS Group AG now owns 568,689 shares of the investment management company’s stock valued at $5,897,000 after buying an additional 15,267 shares in the last quarter. Bank of America Corp DE raised its position in Inv Vk Tr Inv by 3.9% during the first quarter. Bank of America Corp DE now owns 493,823 shares of the investment management company’s stock valued at $4,874,000 after buying an additional 18,626 shares during the period. Van ECK Associates Corp raised its position in Inv Vk Tr Inv by 13.4% during the second quarter. Van ECK Associates Corp now owns 355,063 shares of the investment management company’s stock valued at $3,764,000 after buying an additional 42,019 shares during the period. Finally, Royal Bank of Canada lifted its stake in Inv Vk Tr Inv by 6.4% in the 1st quarter. Royal Bank of Canada now owns 366,523 shares of the investment management company’s stock worth $3,618,000 after acquiring an additional 22,208 shares in the last quarter. Institutional investors and hedge funds own 38.13% of the company’s stock.

About Inv Vk Tr Inv

Invesco Trust for Investment Grade Municipals is a closed-end management investment company listed on the New York Stock Exchange under the symbol VGM. The fund is designed to provide investors with a high level of current income that is generally exempt from regular U.S. federal income tax.

The fund invests primarily in municipal securities issued by states, counties, cities and other governmental entities, as well as related public authorities. Its portfolio focuses on investment-grade municipal bonds and may include securities financing public services and infrastructure such as transportation, education, utilities and health care.

VGM is advised by Invesco, a global investment management firm.