Key Points
- Major shareholder purchase: A major shareholder (reported as Bank of America Corp DE) bought 3,359 shares of VKI on April 2 at an average price of $8.68, totaling $29,156, per an SEC filing.
- Monthly dividend announced: The fund declared a monthly dividend of $0.0559 per share payable April 30 (record/ex-dividend date April 14), implying an annualized yield of about 7.7%.
- Institutional buying: Multiple institutional investors (including Advisors Asset Management, Hennion & Walsh, Bank of America and LPL Financial) increased their stakes, with institutions now owning roughly 27.52% of the stock.
Invesco Advantage Municipal Income Trust II (NYSEAMERICAN:VKI - Get Free Report) major shareholder Of America Corp /De/ Bank purchased 3,359 shares of the stock in a transaction on Thursday, April 2nd. The shares were acquired at an average cost of $8.68 per share, with a total value of $29,156.12. Following the transaction, the insider directly owned 3,359 shares in the company, valued at $29,156.12. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Invesco Advantage Municipal Income Trust II Stock Up 0.9%
VKI opened at $8.75 on Tuesday. The business has a 50 day simple moving average of $9.08 and a two-hundred day simple moving average of $8.97. Invesco Advantage Municipal Income Trust II has a one year low of $7.89 and a one year high of $9.60.
Invesco Advantage Municipal Income Trust II Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 14th will be given a dividend of $0.0559 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a c) dividend on an annualized basis and a yield of 7.7%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of VKI. Advisors Asset Management Inc. lifted its holdings in Invesco Advantage Municipal Income Trust II by 45.7% in the fourth quarter. Advisors Asset Management Inc. now owns 666,492 shares of the financial services provider's stock worth $6,078,000 after buying an additional 208,990 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Invesco Advantage Municipal Income Trust II by 26.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 602,604 shares of the financial services provider's stock worth $5,285,000 after buying an additional 127,491 shares during the period. Bank of America Corp DE lifted its holdings in Invesco Advantage Municipal Income Trust II by 17.1% in the second quarter. Bank of America Corp DE now owns 703,205 shares of the financial services provider's stock worth $5,886,000 after buying an additional 102,596 shares during the period. Indivisible Partners purchased a new stake in Invesco Advantage Municipal Income Trust II in the fourth quarter worth about $789,000. Finally, LPL Financial LLC lifted its holdings in Invesco Advantage Municipal Income Trust II by 11.1% in the fourth quarter. LPL Financial LLC now owns 770,787 shares of the financial services provider's stock worth $7,030,000 after buying an additional 76,993 shares during the period. Institutional investors own 27.52% of the company's stock.
Invesco Advantage Municipal Income Trust II Company Profile
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Get Free Report)
Invesco Advantage Municipal Income Trust II (NYSEAMERICAN: VKI) is a closed-end management investment company that primarily seeks to provide shareholders with high after-tax total return. The fund pursues its objective by investing predominantly in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states, municipalities and other political subdivisions.
The fund's investment strategy emphasizes credit quality and income generation, with portfolio managers conducting in-depth credit analysis to identify opportunities across various sectors—such as transportation, education and healthcare—that offer attractive tax-exempt yields.
Further Reading
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