Invesco High Income 2023 Target Term Fund (NYSE:IHIT) Short Interest Down 58.0% in May

Invesco High Income 2023 Target Term Fund (NYSE:IHIT – Get Rating) was the target of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 16,300 shares, a decline of 58.0% from the April 30th total of 38,800 shares. Based on an average trading volume of 58,800 shares, the days-to-cover ratio is currently 0.3 days.

Institutional investors and hedge funds have recently modified their holdings of the stock. L.M. Kohn & Company acquired a new position in shares of Invesco High Income 2023 Target Term Fund in the 1st quarter worth approximately $248,000. Royal Bank of Canada lifted its holdings in Invesco High Income 2023 Target Term Fund by 79.8% during the 1st quarter. Royal Bank of Canada now owns 18,538 shares of the company’s stock worth $162,000 after buying an additional 8,225 shares in the last quarter. City of London Investment Management Co. Ltd. acquired a new position in shares of Invesco High Income 2023 Target Term Fund in the 1st quarter valued at $2,258,000. Integrated Wealth Concepts LLC lifted its stake in shares of Invesco High Income 2023 Target Term Fund by 4.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 728,814 shares of the company’s stock valued at $6,377,000 after purchasing an additional 29,160 shares during the period. Finally, King Luther Capital Management Corp acquired a new position in shares of Invesco High Income 2023 Target Term Fund in the 1st quarter valued at $88,000.

Shares of NYSE:IHIT opened at $8.71 on Friday. Invesco High Income 2023 Target Term Fund has a fifty-two week low of $8.40 and a fifty-two week high of $10.11. The business has a 50-day moving average of $8.70 and a two-hundred day moving average of $9.06.

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be paid a dividend of $0.044 per share. The ex-dividend date is Friday, May 13th. This represents a $0.53 annualized dividend and a yield of 6.06%.

About Invesco High Income 2023 Target Term Fund (Get Rating)

Invesco High Income 2023 Target Term Fund is a closed ended fixed income mutual fund launched and managed by Invesco Advisers, Inc The fund invests in fixed income markets of the United States. It also invests in real estate debt securities including commercial mortgage-backed securities. The fund employs fundamental analysis with bottom-up approach to create its portfolio.

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