As of its most recent filing with the Securities and Exchange Commission, Claro Advisors LLC announced that it has grown its holdings in shares of Invesco Trust for Investment Grade Municipals (NYSE:VGM) by a staggering 205.4% during the first quarter. The institutional investor now owns 46,240 shares of the investment management company’s stock after purchasing an additional 31,100 shares throughout the quarter. This increased holding amount is worth $460,000 as of its latest filing.
But what does this mean for other investors looking to get in on VGM? To see what other hedge funds are holding VGM, one can visit HoldingsChannel.com to access the latest 13F filings and insider trades. With Claro Advisors LLC demonstrating their confidence in the stock by increasing their holdings so dramatically, it could perhaps be seen as a sign of future growth potential.
Moreover, investors should take note of a recently disclosed monthly dividend from Invesco Trust for Investment Grade Municipals set to be paid on June 30th. Shareholders of record on June 15th will receive a dividend of $0.0361 per share. This translates to an annualized dividend of $0.43 and a healthy dividend yield of 4.46%. Interested parties must purchase shares before June 14th to qualify for this dividend payment.
Overall, these developments may indicate that Invesco Trust for Investment Grade Municipals is on track to deliver value not only for its current shareholders but also those seeking new opportunities in the market. Investors should keep a close eye on these trends come June 30th when dividends are paid out and continue monitoring any major updates moving forward.
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Institutional Investors Drive Growth in Invesco Trust for Investment Grade Municipals
As of the second quarter of 2023, financial experts have noted a significant shift in institutional investors and hedge funds’ holdings of Invesco Trust for Investment Grade Municipals. Captrust Financial Advisors, for example, acquired a new position in the company worth $30,000. Money Concepts Capital Corp and Coastline Trust Co also secured newly invested positions in the enterprise during the fourth quarter – totaling $32,000 and $100,000 respectively. Furthermore, Cetera Investment Advisers and Susquehanna International Group LLP bought new positions during the same period valued at approximately $102,000 and $111,000. Together with other investments made by these entities as well as by various other parties, institutional investors now own 29.12% of Invesco Trust for Investment Grade Municipals’s stock.
On Monday this week, shares of Invesco Trust for Investment Grade Municipals opened at $9.72. As a closed-ended fixed income mutual fund co-managed by several firms worldwide such as INVESCO Asset Management (Japan) Limited and INVESCO Asset Management Limited among others, it has a 12-month low value of $9.00 but also boasts a high point of $11.17 within that same timeframe. The stock’s current standing is significantly impacted by its 50-day ($9.67) and two-hundred-day ($9.86) moving averages respectively.
In conclusion, despite some notable fluctuation over time in the prices associated with different kinds of shares across industries globally; our analysis revealed a remarkable resilience characteristic to Invesco Trust for Investment Grade Municipals’s performance throughout its tenure as an investment platform.The company continues to attract investment into its fold courtesy of multiple arrangements including asset management partnerships that help ensure continued liquidity from savvy investors seeking favorable opportunities in pick-and-shovel markets across jurisdictions spanning stateside neighborhoods to far-flung enclaves abroad.