Invesco Trust for Investment Grade Municipals (NYSE:VGM) Sees Significant Increase in Short Interest

Invesco Trust for Investment Grade Municipals (NYSE:VGMGet Rating) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 139,400 shares, a growth of 113.5% from the April 30th total of 65,300 shares. Based on an average daily volume of 162,600 shares, the days-to-cover ratio is currently 0.9 days.

VGM stock traded up $0.10 during trading on Friday, hitting $11.03. 3,717 shares of the stock traded hands, compared to its average volume of 161,773. The firm’s 50 day moving average is $10.98 and its two-hundred day moving average is $12.28. Invesco Trust for Investment Grade Municipals has a 1 year low of $10.17 and a 1 year high of $14.36.

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th will be issued a dividend of $0.0494 per share. This represents a $0.59 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Friday, May 13th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Concourse Financial Group Securities Inc. boosted its holdings in shares of Invesco Trust for Investment Grade Municipals by 33.5% during the 4th quarter. Concourse Financial Group Securities Inc. now owns 3,684 shares of the investment management company’s stock valued at $51,000 after acquiring an additional 924 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Invesco Trust for Investment Grade Municipals by 3.7% in the fourth quarter. Spire Wealth Management now owns 28,380 shares of the investment management company’s stock worth $396,000 after buying an additional 1,000 shares during the last quarter. Claro Advisors LLC boosted its holdings in shares of Invesco Trust for Investment Grade Municipals by 2.3% in the third quarter. Claro Advisors LLC now owns 49,052 shares of the investment management company’s stock worth $672,000 after buying an additional 1,082 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Invesco Trust for Investment Grade Municipals by 0.6% in the first quarter. Advisor Group Holdings Inc. now owns 224,163 shares of the investment management company’s stock worth $2,606,000 after buying an additional 1,437 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Invesco Trust for Investment Grade Municipals by 8.3% in the third quarter. Truist Financial Corp now owns 21,717 shares of the investment management company’s stock worth $297,000 after buying an additional 1,670 shares during the last quarter. 23.63% of the stock is currently owned by hedge funds and other institutional investors.

About Invesco Trust for Investment Grade Municipals (Get Rating)

Invesco Trust for Investment Grade Municipals is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States.

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