Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) Sees Large Decrease in Short Interest

Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 1,200 shares, a decline of 52.0% from the December 15th total of 2,500 shares. Based on an average daily trading volume, of 25,800 shares, the days-to-cover ratio is currently 0.0 days.

Several hedge funds and other institutional investors have recently made changes to their positions in VTN. Commonwealth Equity Services LLC grew its stake in Invesco Trust for Investment Grade New York Municipals by 9.4% during the second quarter. Commonwealth Equity Services LLC now owns 30,925 shares of the investment management company’s stock valued at $429,000 after acquiring an additional 2,650 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Invesco Trust for Investment Grade New York Municipals by 27.8% in the 2nd quarter. Morgan Stanley now owns 143,862 shares of the investment management company’s stock worth $1,998,000 after acquiring an additional 31,291 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Invesco Trust for Investment Grade New York Municipals by 10.1% in the 2nd quarter. Royal Bank of Canada now owns 128,291 shares of the investment management company’s stock worth $1,782,000 after acquiring an additional 11,810 shares during the last quarter. Rivernorth Capital Management LLC bought a new stake in shares of Invesco Trust for Investment Grade New York Municipals in the 2nd quarter worth about $907,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Invesco Trust for Investment Grade New York Municipals by 166.3% in the 2nd quarter. Wells Fargo & Company MN now owns 18,716 shares of the investment management company’s stock worth $260,000 after acquiring an additional 11,688 shares during the last quarter. 10.11% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE VTN opened at $13.10 on Friday. The firm’s 50 day moving average price is $13.46 and its 200-day moving average price is $13.65. Invesco Trust for Investment Grade New York Municipals has a 52-week low of $12.70 and a 52-week high of $14.17.

The firm also recently announced a monthly dividend, which will be paid on Monday, January 31st. Shareholders of record on Tuesday, January 18th will be issued a dividend of $0.0478 per share. The ex-dividend date of this dividend is Friday, January 14th. This represents a $0.57 dividend on an annualized basis and a yield of 4.38%.

Invesco Trust for Investment Grade New York Municipals Company Profile

Invesco Trust for Investment Grade New York Municipals operates as a non-diversified, closed-end investment company. It intends to provide common shareholders with current income exempt from federal as well as from New York State and New York City income taxes, consistent with preservation of capital.

Further Reading: How can you know how many shares are floating?

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