Invesco Municipal Trust (NYSE:VKQ) Sees Unusually-High Trading Volume After Dividend Announcement

Shares of Invesco Municipal Trust (NYSE:VKQ) saw strong trading volume on Friday after the company announced a dividend. 330,204 shares changed hands during trading, an increase of 130% from the previous session’s volume of 143,420 shares.The stock last traded at $9.44 and had previously closed at $9.40.

The newly announced dividend which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.0391 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.94%.

Invesco Municipal Trust Stock Performance

The firm’s 50-day moving average is $9.46 and its two-hundred day moving average is $9.27.

Institutional Investors Weigh In On Invesco Municipal Trust

Several large investors have recently bought and sold shares of the company. Matisse Capital acquired a new stake in shares of Invesco Municipal Trust in the first quarter worth approximately $944,000. Van ECK Associates Corp lifted its holdings in Invesco Municipal Trust by 5.5% in the 1st quarter. Van ECK Associates Corp now owns 441,667 shares of the investment management company’s stock valued at $4,284,000 after purchasing an additional 22,902 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Invesco Municipal Trust by 6.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 114,605 shares of the investment management company’s stock worth $1,112,000 after purchasing an additional 7,420 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Invesco Municipal Trust by 7.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 294,349 shares of the investment management company’s stock worth $2,855,000 after purchasing an additional 19,600 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Invesco Municipal Trust during the first quarter worth $49,000. 32.00% of the stock is currently owned by hedge funds and other institutional investors.

About Invesco Municipal Trust

Invesco Municipal Trust 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 Hong Kong Limited, INVESCO Senior Secured Management, Inc, and Invesco Canada Ltd.