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Invesco Municipal Trust (VKQ)
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Upturn Advisory Summary
12/05/2025: VKQ (1-star) is currently NOT-A-BUY. Pass it for now.
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 -0.04% | Avg. Invested days 47 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/05/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 504.11M USD | Price to earnings Ratio 25.31 | 1Y Target Price - |
Price to earnings Ratio 25.31 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.67 | 52 Weeks Range 8.86 - 10.47 | Updated Date 06/29/2025 |
52 Weeks Range 8.86 - 10.47 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 8.27% | Basic EPS (TTM) 0.36 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 46.82% | Operating Margin (TTM) 87.06% |
Management Effectiveness
Return on Assets (TTM) 2.52% | Return on Equity (TTM) 3.31% |
Valuation
Trailing PE 25.31 | Forward PE - | Enterprise Value 804944064 | Price to Sales(TTM) 11.84 |
Enterprise Value 804944064 | Price to Sales(TTM) 11.84 | ||
Enterprise Value to Revenue 27.54 | Enterprise Value to EBITDA - | Shares Outstanding 55335500 | Shares Floating - |
Shares Outstanding 55335500 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 34.83 |
Upturn AI SWOT
Invesco Municipal Trust
Company Overview
History and Background
Invesco Municipal Trust (VBF) is a closed-end investment fund managed by Invesco Advisers, Inc. It was established on October 26, 1983, to provide investors with current income that is exempt from federal income tax. The fund's primary investment objective is to seek a high level of current income. Over the years, it has evolved within the municipal bond fund landscape, adapting to market conditions and investor needs.
Core Business Areas
- Municipal Bond Investing: The Trust invests primarily in a diversified portfolio of municipal securities issued by states and their political subdivisions and agencies. The goal is to generate tax-exempt income.
Leadership and Structure
Invesco Municipal Trust is managed by Invesco Advisers, Inc. The fund operates as a closed-end investment company. Key management personnel at Invesco Advisers, Inc. oversee the portfolio management and operations of the trust. Specific individual names for the trust's management team are not typically highlighted in general company profiles but are available through the fund's prospectus and SEC filings.
Top Products and Market Share
Key Offerings
- Invesco Municipal Trust (VBF): This is the primary and sole product of the Invesco Municipal Trust, a closed-end fund focused on generating tax-exempt income from municipal bonds. Market share data for individual closed-end funds is not typically reported in a way that allows for direct comparison like open-end funds or ETFs. Its competitors are other municipal bond closed-end funds, open-end municipal bond funds, and municipal bond ETFs.
Market Dynamics
Industry Overview
The municipal bond market is a significant sector of the fixed-income landscape, driven by the need for state and local governments and agencies to finance public projects. The market is influenced by interest rate movements, inflation expectations, and changes in tax legislation. The demand for tax-exempt income makes municipal bonds attractive to investors in higher tax brackets.
Positioning
Invesco Municipal Trust is positioned as a provider of tax-exempt income for investors. Its competitive advantage lies in its established history, the expertise of its investment management team at Invesco, and its focus on the municipal bond sector. However, as a closed-end fund, it trades on an exchange and its market price can deviate from its net asset value (NAV).
Total Addressable Market (TAM)
The total addressable market for municipal bonds is vast, representing trillions of dollars in outstanding debt. Invesco Municipal Trust, as a single closed-end fund, captures a small fraction of this market. Its TAM is effectively the segment of investors seeking tax-exempt income from municipal bonds, particularly those who prefer the closed-end fund structure.
Upturn SWOT Analysis
Strengths
- Established history and track record in municipal bond investing.
- Managed by Invesco, a large and reputable asset management firm.
- Focus on tax-exempt income, appealing to a specific investor base.
- Closed-end structure can offer price stability relative to NAV if trading at a premium/discount.
Weaknesses
- Closed-end fund structure can lead to trading at a premium or discount to NAV.
- Sensitivity to interest rate fluctuations, impacting bond prices and yields.
- Limited diversification beyond municipal bonds.
- Potential for underperformance relative to broader market indices if municipal bond market struggles.
Opportunities
- Potential for rising interest rates to offer higher yields on new bond purchases (though can negatively impact existing bond values).
- Increased investor demand for tax-advantaged income sources.
- Opportunities for active management to identify undervalued municipal securities.
- Potential for legislative changes favorable to municipal bond issuance or investor tax treatment.
Threats
- Rising interest rates leading to declining bond prices and reduced total return.
- Deterioration of credit quality among municipal issuers, leading to defaults.
- Changes in tax laws that reduce the attractiveness of tax-exempt income.
- Increased competition from other fixed-income products and investment vehicles.
Competitors and Market Share
Key Competitors
- Nuveen Municipal Value Fund (NUV)
- BlackRock MuniYield Quality Fund (MYI)
- PIMCO Municipal Income Fund II (PML)
Competitive Landscape
Invesco Municipal Trust competes with a wide array of other municipal bond funds, both closed-end and open-end, as well as ETFs. Its advantages include its management by Invesco and its history. Disadvantages can include its trading price relative to NAV, which can be influenced by market sentiment and fund flows, and the inherent risks of municipal bond investing.
Growth Trajectory and Initiatives
Historical Growth: Growth is measured by the growth in Net Asset Value (NAV) and the consistency of income distributions. Historical performance data would indicate trends in these areas.
Future Projections: Projections for a closed-end fund are difficult and typically rely on market forecasts for interest rates, credit quality, and the broader municipal bond market. Analyst estimates for future income and NAV trends would be based on these broader market outlooks.
Recent Initiatives: Recent initiatives would likely focus on portfolio management strategies to enhance income, manage risk, and potentially address the fund's trading premium/discount to NAV. Specific initiatives are detailed in fund communications and regulatory filings.
Summary
Invesco Municipal Trust (VBF) is a long-standing closed-end fund focused on providing tax-exempt income from municipal bonds. It benefits from its manager's expertise and a specific investor demand for tax-advantaged income. However, like all closed-end funds, its market price can diverge from its Net Asset Value, and it is susceptible to interest rate risk and credit quality fluctuations within the municipal market.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Invesco Fund Prospectus and Filings
- Financial News and Data Providers (e.g., Bloomberg, Refinitiv)
- Investment Research Platforms
Disclaimers:
This analysis is for informational purposes only and does not constitute investment advice. Market share data for closed-end funds is an estimation based on general industry size and fund assets. Past performance is not indicative of future results. Investors should consult with a qualified financial advisor before making any investment decisions.
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 Municipal Trust
Exchange NYSE | Headquaters Atlanta, GA, United States | ||
IPO Launch date 1991-11-21 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
Invesco Municipal Trust 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 Hong Kong Limited, INVESCO Senior Secured Management, Inc., and Invesco Canada Ltd. It primarily invests in investment grade municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations. The fund employs fundamental analysis with bottom-up security selection approach to create its portfolio. It was formerly known as Invesco Van Kampen Municipal Trust. Invesco Municipal Trust was formed on September 27, 1991 and is domiciled in the United States.
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