Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) Shares Pass Below 200-Day Moving Average - Time to Sell?

Invesco Trust for Investment Grade New York Municipals (NYSE:VTN - Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.32 and traded as low as $11.20. Invesco Trust for Investment Grade New York Municipals shares last traded at $11.23, with a volume of 94,103 shares trading hands.

Invesco Trust for Investment Grade New York Municipals Price Performance

The business has a 50 day simple moving average of $11.36 and a two-hundred day simple moving average of $11.31.

Invesco Trust for Investment Grade New York Municipals Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.0685 per share. The ex-dividend date is Tuesday, December 17th.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 803,267 shares of the business's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.50, for a total transaction 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 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.

Institutional Trading of Invesco Trust for Investment Grade New York Municipals

Several large investors have recently made changes to their positions in VTN. Hennion & Walsh Asset Management Inc. raised its position in shares of Invesco Trust for Investment Grade New York Municipals by 3.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 227,802 shares of the investment management company's stock worth $2,560,000 after purchasing an additional 6,684 shares during the last quarter. Whitebox Advisors LLC raised its holdings in shares of Invesco Trust for Investment Grade New York Municipals by 228.9% during the second quarter. Whitebox Advisors LLC now owns 120,354 shares of the investment management company's stock valued at $1,353,000 after acquiring an additional 83,766 shares during the last quarter. Rivernorth Capital Management LLC lifted its position in shares of Invesco Trust for Investment Grade New York Municipals by 21.4% in the third quarter. Rivernorth Capital Management LLC now owns 197,573 shares of the investment management company's stock valued at $2,278,000 after acquiring an additional 34,827 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in shares of Invesco Trust for Investment Grade New York Municipals in the second quarter worth approximately $127,000. 34.87% of the stock is owned by hedge funds and other institutional investors.

Invesco Trust for Investment Grade New York Municipals Company Profile

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.