Invesco Trust for Investment Grade Municipals (NYSE:VGM) Sees Large Growth in Short Interest

Invesco Trust for Investment Grade Municipals (NYSE:VGM) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 111,400 shares, a growth of 143.2% from the September 30th total of 45,800 shares. Based on an average daily volume of 162,900 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Invesco Trust for Investment Grade Municipals

Several institutional investors have recently bought and sold shares of the company. Karpus Management Inc. lifted its stake in Invesco Trust for Investment Grade Municipals by 20.8% in the 1st quarter. Karpus Management Inc. now owns 3,865,590 shares of the investment management company’s stock valued at $38,115,000 after acquiring an additional 666,037 shares in the last quarter. Robinson Capital Management LLC lifted its stake in Invesco Trust for Investment Grade Municipals by 16.4% in the 1st quarter. Robinson Capital Management LLC now owns 683,163 shares of the investment management company’s stock valued at $6,532,000 after acquiring an additional 96,457 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Invesco Trust for Investment Grade Municipals by 80.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 445,360 shares of the investment management company’s stock valued at $4,574,000 after acquiring an additional 198,972 shares in the last quarter. Van ECK Associates Corp lifted its stake in Invesco Trust for Investment Grade Municipals by 5.0% in the 1st quarter. Van ECK Associates Corp now owns 429,706 shares of the investment management company’s stock valued at $4,237,000 after acquiring an additional 20,389 shares in the last quarter. Finally, Leo Wealth LLC lifted its stake in Invesco Trust for Investment Grade Municipals by 11.5% in the 3rd quarter. Leo Wealth LLC now owns 218,123 shares of the investment management company’s stock valued at $2,303,000 after acquiring an additional 22,415 shares in the last quarter. Institutional investors own 38.13% of the company’s stock.

Invesco Trust for Investment Grade Municipals Price Performance

Shares of VGM traded down $0.06 on Friday, hitting $10.17. The company’s stock had a trading volume of 286,631 shares, compared to its average volume of 156,282. The firm’s fifty day moving average price is $10.46 and its 200-day moving average price is $10.18. Invesco Trust for Investment Grade Municipals has a fifty-two week low of $8.15 and a fifty-two week high of $10.70.

Invesco Trust for Investment Grade Municipals Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a $0.0646 dividend. This represents a $0.78 annualized dividend and a yield of 7.62%. The ex-dividend date is Wednesday, October 16th.

About Invesco Trust for Investment Grade Municipals

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.