Inv Vk Mun Tr (NYSE:VKQ) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Shares of Inv Vk Mun Tr (NYSE:VKQ) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $8.99 and traded as high as $9.17. Inv Vk Mun Tr shares last traded at $9.1390, with a volume of 173,906 shares changing hands.

Inv Vk Mun Tr Price Performance

The company’s 50 day simple moving average is $8.99 and its 200 day simple moving average is $9.58.

Inv Vk Mun Tr Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be issued a $0.0628 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 8.2%. This is a drop from Inv Vk Mun Tr’s previous monthly dividend of $0.0628. The ex-dividend date is Monday, November 16th.

Institutional Investors Weigh In On Inv Vk Mun Tr

Several large investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its holdings in Inv Vk Mun Tr by 14,894.1% in the third quarter. Fifth Third Bancorp now owns 17,693 shares of the investment management company’s stock valued at $150,000 after acquiring an additional 17,575 shares in the last quarter. Lido Advisors LLC grew its holdings in Inv Vk Mun Tr by 47.9% during the 3rd quarter. Lido Advisors LLC now owns 21,561 shares of the investment management company’s stock worth $183,000 after acquiring an additional 6,986 shares in the last quarter. Abel Hall LLC acquired a new position in Inv Vk Mun Tr during the 3rd quarter worth approximately $127,000. Envestnet Asset Management Inc. acquired a new position in Inv Vk Mun Tr during the 2nd quarter worth approximately $139,000. Finally, NewEdge Advisors LLC grew its holdings in Inv Vk Mun Tr by 29.0% during the 2nd quarter. NewEdge Advisors LLC now owns 453,003 shares of the investment management company’s stock worth $4,548,000 after acquiring an additional 101,890 shares in the last quarter. Hedge funds and other institutional investors own 32.00% of the company’s stock.

About Inv Vk Mun Tr

Invesco Municipal Trust (NYSE: VKQ) is a closed-end management investment company advised by Invesco Ltd. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in a diversified portfolio of municipal securities.

The trust invests in debt obligations issued by states, municipalities, and other governmental entities. These securities may help finance public projects and services such as transportation, education, utilities, health care, and other essential infrastructure.