Insider Selling: Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) Major Shareholder Sells $9,237,570.50 in Stock

by · The Markets Daily

Invesco Trust for Investment Grade New York Municipals (NYSE:VTN – Get Free Report) major shareholder Saba Capital Management, L.P. sold 803,267 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $11.50, for a total value of $9,237,570.50. Following the sale, the insider now directly owns 1,877,124 shares of the company’s stock, valued at $21,586,926. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Tuesday, October 1st, Saba Capital Management, L.P. sold 9,640 shares of Invesco Trust for Investment Grade New York Municipals stock. The stock was sold at an average price of $11.59, for a total transaction of $111,727.60.

Invesco Trust for Investment Grade New York Municipals Stock Performance

Shares of VTN stock opened at $11.41 on Thursday. The firm’s 50 day moving average price is $11.41 and its 200-day moving average price is $11.08. Invesco Trust for Investment Grade New York Municipals has a one year low of $8.49 and a one year high of $11.68.

Invesco Trust for Investment Grade New York Municipals Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $0.0685 per share. This represents a $0.82 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Wednesday, October 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Nomura Holdings Inc. acquired a new position in Invesco Trust for Investment Grade New York Municipals during the 4th quarter worth about $113,000. Joseph P. Lucia & Associates LLC purchased a new stake in Invesco Trust for Investment Grade New York Municipals during the second quarter worth about $127,000. Scarborough Advisors LLC acquired a new stake in shares of Invesco Trust for Investment Grade New York Municipals during the fourth quarter worth about $260,000. Whitebox Advisors LLC purchased a new position in shares of Invesco Trust for Investment Grade New York Municipals in the first quarter valued at approximately $393,000. Finally, Sanders Morris Harris LLC acquired a new position in shares of Invesco Trust for Investment Grade New York Municipals in the first quarter valued at approximately $419,000. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Trust for Investment Grade New York Municipals Company Profile

(Get Free Report)

Invesco Trust for Investment Grade New York 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.

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