Invesco Advantage Municipal Income Trust II (NYSEAMERICAN:VKI) Stock Price Breaks Below Fifty Day Moving Average – Here’s What Happened

Invesco Advantage Municipal Income Trust II (NYSEAMERICAN:VKI)’s stock price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $8.33 and traded as low as $8.20. Invesco Advantage Municipal Income Trust II shares last traded at $8.26, with a volume of 175,483 shares traded.

Invesco Advantage Municipal Income Trust II Stock Down 1.8%

The stock’s fifty day simple moving average is $8.31 and its two-hundred day simple moving average is $8.78.

Invesco Advantage Municipal Income Trust II Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be issued a $0.0559 dividend. The ex-dividend date is Wednesday, October 14th. This is an increase from Invesco Advantage Municipal Income Trust II’s previous monthly dividend of $0.0559. This represents a $0.67 dividend on an annualized basis and a yield of 8.3%.

Institutional Investors Weigh In On Invesco Advantage Municipal Income Trust II

Institutional investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. purchased a new position in shares of Invesco Advantage Municipal Income Trust II in the 2nd quarter worth about $127,000. Kestra Advisory Services LLC grew its holdings in shares of Invesco Advantage Municipal Income Trust II by 334.8% during the 1st quarter. Kestra Advisory Services LLC now owns 24,492 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 18,859 shares during the period. Worth Asset Management LLC purchased a new stake in shares of Invesco Advantage Municipal Income Trust II during the 2nd quarter worth about $271,000. Cetera Investment Advisers increased its position in Invesco Advantage Municipal Income Trust II by 20.4% during the 1st quarter. Cetera Investment Advisers now owns 35,844 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 6,068 shares in the last quarter. Finally, Madison Park Capital Advisors LLC increased its position in Invesco Advantage Municipal Income Trust II by 8.3% during the 1st quarter. Madison Park Capital Advisors LLC now owns 45,662 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 3,508 shares in the last quarter. Hedge funds and other institutional investors own 27.52% of the company’s stock.

About Invesco Advantage Municipal Income Trust II

Invesco Advantage Municipal Income Trust II is a closed-end management investment company listed on the NYSE American under the symbol VKI. The trust seeks to provide current income that is exempt from regular federal income tax by investing primarily in a portfolio of municipal securities issued by states, municipalities and other public-sector entities.

The fund may invest in a range of tax-exempt obligations, including general obligation and revenue bonds. Revenue from these securities is generally supported by specific projects, facilities or public services, such as transportation systems, utilities, hospitals and schools.