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Invesco Trust For Inv Grade Munis (VGM)
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Upturn Advisory Summary
01/09/2026: VGM (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 11.03% | Avg. Invested days 51 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 514.12M USD | Price to earnings Ratio 24.95 | 1Y Target Price - |
Price to earnings Ratio 24.95 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.67 | 52 Weeks Range 9.28 - 10.70 | Updated Date 06/29/2025 |
52 Weeks Range 9.28 - 10.70 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 8.18% | Basic EPS (TTM) 0.38 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 47.96% | Operating Margin (TTM) 87.17% |
Management Effectiveness
Return on Assets (TTM) 2.49% | Return on Equity (TTM) 3.34% |
Valuation
Trailing PE 24.95 | Forward PE - | Enterprise Value 794670016 | Price to Sales(TTM) 12.15 |
Enterprise Value 794670016 | Price to Sales(TTM) 12.15 | ||
Enterprise Value to Revenue 27 | Enterprise Value to EBITDA - | Shares Outstanding 54232000 | Shares Floating - |
Shares Outstanding 54232000 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 37.63 |
Upturn AI SWOT
Invesco Trust For Inv Grade Munis
Company Overview
History and Background
Invesco Trust for Investment Grade Municipalities (the Trust) is a closed-end management investment company. It was established in 1986 and aims to provide investors with a high level of income exempt from federal income taxes, consistent with preservation of capital. Over the years, it has focused on investing in a diversified portfolio of investment-grade municipal securities. Its evolution has been marked by adapting to market conditions and investor demand for tax-advantaged income.
Core Business Areas
- Investment in Municipal Securities: The Trust's primary business is to invest in a diversified portfolio of investment-grade municipal securities issued by states, municipalities, and their agencies. These securities are primarily focused on generating tax-exempt income.
Leadership and Structure
As a closed-end fund, the Trust is managed by Invesco Advisers, Inc. The specific individuals involved in the day-to-day management of the Trust's portfolio are typically portfolio managers with expertise in the municipal bond market. The organizational structure is that of a publicly traded investment company.
Top Products and Market Share
Key Offerings
- Product Name 1: Invesco Trust for Investment Grade Municipalities (VGM): This is the primary offering of the Trust, focusing on providing tax-exempt income through investment in high-quality municipal bonds. Market share data for individual closed-end funds is not typically tracked in the same way as for open-end funds or ETFs, but its performance and yield are key competitive factors. Competitors include other closed-end municipal bond funds and open-end municipal bond funds from various asset managers.
Market Dynamics
Industry Overview
The municipal bond market is influenced by interest rate environments, tax policies, and the creditworthiness of issuers. The demand for tax-exempt income remains a significant driver, particularly for investors in higher tax brackets. The closed-end fund structure offers a fixed pool of capital, which can lead to price volatility relative to net asset value (NAV).
Positioning
Invesco Trust For Inv Grade Munis is positioned as a provider of stable, tax-exempt income for investors seeking to preserve capital. Its focus on investment-grade securities aims to mitigate credit risk. Its competitive advantage lies in Invesco's broader asset management capabilities and established presence in the fixed-income space.
Total Addressable Market (TAM)
The TAM for municipal bonds is substantial, with trillions of dollars in outstanding debt. Invesco Trust For Inv Grade Munis competes within the segment of investment-grade municipal bond funds, both closed-end and open-end. Its specific market share within this segment is a function of its fund size and investor appeal relative to numerous other offerings.
Upturn SWOT Analysis
Strengths
- Focus on investment-grade securities for lower credit risk.
- Provision of tax-exempt income, appealing to higher tax bracket investors.
- Managed by a large and reputable asset management firm (Invesco).
- Closed-end structure can allow for active management and potential for discount/premium trading.
Weaknesses
- Interest rate sensitivity inherent in bond funds.
- Potential for discounts to NAV, impacting investor returns.
- Limited growth potential compared to equity-focused investments.
- Can be subject to call risk on underlying municipal bonds.
Opportunities
- Favorable tax environments for municipal bonds.
- Investor demand for income generation.
- Potential for active management to identify undervalued securities.
- Economic recovery leading to improved credit quality of municipal issuers.
Threats
- Rising interest rates can decrease bond prices.
- Changes in federal or state tax laws that reduce the attractiveness of municipal bonds.
- Deterioration of municipal issuer creditworthiness.
- Competition from other income-generating investments.
Competitors and Market Share
Key Competitors
- Nuveen Municipal Value Fund (NUV)
- BlackRock Municipal Bond Trust (BQH)
- PIMCO Municipal Income Fund III (PMX)
Competitive Landscape
Invesco Trust For Inv Grade Munis competes in a crowded market of municipal bond funds. Its advantages lie in its established track record, Invesco's brand recognition, and a focus on investment-grade quality. Disadvantages could include management fees and the specific portfolio composition compared to peers.
Growth Trajectory and Initiatives
Historical Growth: Growth for a closed-end fund like this is primarily measured by the growth in its NAV and the stability of its income distributions. Historically, its trajectory has been tied to the performance of the investment-grade municipal bond market.
Future Projections: Future projections are dependent on the anticipated performance of the municipal bond market, including interest rate forecasts and credit quality trends. Analyst estimates for funds are less common than for individual stocks; performance is generally gauged by macroeconomic factors.
Recent Initiatives: Recent initiatives would typically involve portfolio adjustments by the fund managers to adapt to changing market conditions, such as shifts in interest rates or issuer credit profiles, and potentially share buyback programs if the fund is trading at a significant discount to NAV.
Summary
Invesco Trust For Inv Grade Munis is a well-established closed-end fund focused on providing tax-exempt income from investment-grade municipal bonds. It benefits from Invesco's expertise and the ongoing demand for tax-advantaged investments. However, it faces interest rate sensitivity and competition from numerous other municipal bond funds, requiring diligent management to maintain its attractiveness to investors.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Invesco Official Filings and Reports
- Financial Data Aggregators (e.g., Morningstar, Bloomberg)
- Industry Publications and Analysis
Disclaimers:
This information is for illustrative purposes only and should not be considered investment advice. Financial data and market share are estimates and can change rapidly. Past performance is not indicative of future results.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Invesco Trust For Inv Grade Munis
Exchange NYSE | Headquaters Atlanta, GA, United States | ||
IPO Launch date 1992-02-19 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
Invesco Trust for Investment Grade 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. The fund primarily invests in investment grade municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations. It employs fundamental analysis with bottom-up security selection approach to create its portfolio. The fund was formerly known as Invesco Van Kampen Trust for Investment Grade Municipals. Invesco Trust for Investment Grade Municipals was formed on January 24, 1992 and is domiciled in the United States.
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