Invesco Trust for Investment Grade New York Municipals Sees Significant Increase in Short Interest

Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) experienced a notable rise in short interest throughout February. As of February 15th, the total short interest reached 14,700 shares, which marks an impressive increase of 53.1% compared to the 9,600 shares reported on January 31st. Given the average daily trading volume of 79,700 shares, the current days-to-cover ratio stands at just 0.2 days.

Institutional Trading Activity

Recently, several institutional investors have altered their positions in the Invesco Trust for Investment Grade New York Municipals stock. Hennion & Walsh Asset Management Inc. expanded its holdings by 2.0% during the fourth quarter, now owning 153,293 shares valued at $1,605,000 after acquiring an additional 3,075 shares. Stifel Financial Corp increased its stake by 19.4%, bringing its total to 45,616 shares worth $478,000, following the purchase of 7,418 shares. Additionally, Raymond James Financial Inc. and PFG Investments LLC each bought new positions valued at approximately $112,000, while Walleye Capital LLC also entered the market with a new position worth about $115,000. Collectively, institutional investors and hedge funds control approximately 34.87% of the company's total shares.

Stock Performance Overview

On Monday, shares of NYSE VTN opened at $10.73. The stock has a 50-day simple moving average of $10.50 and a 200-day simple moving average of $11.05. Over the past year, Invesco Trust for Investment Grade New York Municipals reported a low of $10.16 and a high of $11.68, reflecting its performance variability.

Recent Dividend Announcement

The company recently declared a monthly dividend, which was distributed on February 28th. Investors recorded on February 18th received a dividend of $0.0685 per share. The ex-dividend date was also set for February 18th, leading to an annualized dividend of $0.82, which results in a yield of approximately 7.66%.

About the Invesco Trust for Investment Grade New York Municipals

Invesco Trust for Investment Grade New York Municipals is a closed-ended fixed income mutual fund created by Invesco Ltd. The fund is managed by various entities under Invesco such as Invesco Advisers, Inc. and others. Its focus is on U.S. fixed income markets.

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