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

Invesco Trust for Investment Grade New York Municipals (NYSE:VTN) major shareholder Saba Capital Management, L.P. sold 803,267 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $11.50, for a total transaction of $9,237,570.50. Following the transaction, the insider now owns 1,877,124 shares in the company, valued at $21,586,926. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 value of $111,727.60.

Invesco Trust for Investment Grade New York Municipals Trading Up 0.6 %

Shares of NYSE VTN opened at $11.46 on Wednesday. Invesco Trust for Investment Grade New York Municipals has a 12 month low of $8.49 and a 12 month high of $11.68. The stock has a 50 day moving average of $11.41 and a 200-day moving average of $11.07.

Invesco Trust for Investment Grade New York Municipals Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a dividend of $0.0685 per share. This represents a $0.82 annualized dividend and a yield of 7.17%. The ex-dividend date of this dividend is Wednesday, October 16th.

Hedge Funds Weigh In On Invesco Trust for Investment Grade New York Municipals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new stake in shares of Invesco Trust for Investment Grade New York Municipals during the 4th quarter worth about $260,000. Nomura Holdings Inc. acquired a new stake in Invesco Trust for Investment Grade New York Municipals during the fourth quarter worth approximately $113,000. 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. Whitebox Advisors LLC acquired a new position in shares of Invesco Trust for Investment Grade New York Municipals in the first quarter valued at approximately $393,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in 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. 34.87% of the stock is owned by institutional investors.

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.