Inv Vk Tr Inv (NYSE:VGM) Sets New 1-Year Low – Here’s Why

Inv Vk Tr Inv (NYSE:VGM)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $9.55 and last traded at $9.57, with a volume of 186475 shares trading hands. The stock had previously closed at $9.65.

Inv Vk Tr Inv Stock Performance

The firm’s 50-day moving average price is $10.19 and its 200 day moving average price is $10.22.

Inv Vk Tr Inv Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 14th will be paid a $0.0646 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%.

Institutional Investors Weigh In On Inv Vk Tr Inv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings in Inv Vk Tr Inv by 96.2% during the second quarter. NewEdge Advisors LLC now owns 136,864 shares of the investment management company’s stock worth $1,451,000 after buying an additional 67,094 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Inv Vk Tr Inv by 9.6% in the 2nd quarter. Baird Financial Group Inc. now owns 56,200 shares of the investment management company’s stock valued at $596,000 after acquiring an additional 4,935 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Inv Vk Tr Inv by 12.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,826 shares of the investment management company’s stock valued at $147,000 after acquiring an additional 1,500 shares during the period. Susquehanna International Group LLP bought a new position in Inv Vk Tr Inv during the 2nd quarter worth approximately $127,000. Finally, Van ECK Associates Corp grew its holdings 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 purchasing an additional 42,019 shares during the period. Institutional investors own 38.13% of the company’s stock.

Inv Vk Tr Inv Company Profile

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.