Insider Selling: Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) Major Shareholder Sells 9,640 Shares of Stock

Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) major shareholder Saba Capital Management, L.P. sold 9,640 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $11.59, for a total transaction of $111,727.60. Following the transaction, the insider now owns 2,748,018 shares of the company’s stock, valued at approximately $31,849,528.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Invesco Trust for Investment Grade New York Municipals Trading Down 0.2 %

Shares of VTN traded down $0.02 during mid-day trading on Thursday, reaching $11.49. The company had a trading volume of 820,895 shares, compared to its average volume of 42,449. The company’s 50-day moving average is $11.39 and its 200-day moving average is $11.05. Invesco Trust for Investment Grade New York Municipals has a twelve month low of $8.49 and a twelve month high of $11.68.

Invesco Trust for Investment Grade New York Municipals Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be paid a $0.0685 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $0.82 annualized dividend and a dividend yield of 7.15%.

Institutional Investors Weigh In On Invesco Trust for Investment Grade New York Municipals

Several large investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its position in Invesco Trust for Investment Grade New York Municipals by 3.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 227,802 shares of the investment management company’s stock valued at $2,560,000 after purchasing an additional 6,684 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Invesco Trust for Investment Grade New York Municipals in the 4th quarter valued at about $113,000. Whitebox Advisors LLC raised its stake in shares of Invesco Trust for Investment Grade New York Municipals by 228.9% in the second quarter. Whitebox Advisors LLC now owns 120,354 shares of the investment management company’s stock worth $1,353,000 after acquiring an additional 83,766 shares during the last quarter. Sanders Morris Harris LLC bought a new position in shares of Invesco Trust for Investment Grade New York Municipals in the first quarter worth about $419,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Invesco Trust for Investment Grade New York Municipals during the fourth quarter worth approximately $260,000. Institutional investors own 34.87% of the company’s stock.

About Invesco Trust for Investment Grade New York Municipals

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.