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Invesco Trust For Inv Grade NY Munis (VTN)
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Upturn Advisory Summary
12/10/2025: VTN (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 13.8% | Avg. Invested days 53 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 12/10/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 149.74M USD | Price to earnings Ratio 35.34 | 1Y Target Price - |
Price to earnings Ratio 35.34 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.68 | 52 Weeks Range 9.49 - 11.68 | Updated Date 06/29/2025 |
52 Weeks Range 9.49 - 11.68 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 8.02% | Basic EPS (TTM) 0.29 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 39% | Operating Margin (TTM) 85.72% |
Management Effectiveness
Return on Assets (TTM) 2.52% | Return on Equity (TTM) 2.88% |
Valuation
Trailing PE 35.34 | Forward PE - | Enterprise Value 346623968 | Price to Sales(TTM) 9.97 |
Enterprise Value 346623968 | Price to Sales(TTM) 9.97 | ||
Enterprise Value to Revenue 30.41 | Enterprise Value to EBITDA - | Shares Outstanding 14608300 | Shares Floating - |
Shares Outstanding 14608300 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 13.34 |
Upturn AI SWOT
Invesco Trust For Inv Grade NY Munis
Company Overview
History and Background
Invesco Trust For Inv Grade NY Munis (VNM) is a closed-end investment fund established in 1988, managed by Invesco Advisers, Inc. It aims to provide its shareholders with current income that is exempt from federal income tax and from New York State and New York City income taxes. The fund invests primarily in a diversified portfolio of investment-grade municipal securities issued by New York State and its political subdivisions.
Core Business Areas
- Municipal Bond Investing: The primary business is to invest in a portfolio of tax-exempt municipal bonds, focusing on those issued by New York entities. The goal is to generate tax-advantaged income for investors.
Leadership and Structure
The fund is managed by Invesco Advisers, Inc., with a team of portfolio managers overseeing investment decisions. As a closed-end fund, it has a board of trustees responsible for overseeing the fund's operations and acting in the best interests of shareholders.
Top Products and Market Share
Key Offerings
- Invesco Trust For Inv Grade NY Munis (VNM): This is the sole offering of the trust, focused on providing tax-exempt income from New York municipal bonds. Market share is difficult to quantify as it is a single closed-end fund, but it competes within the broader municipal bond fund market, particularly those focused on New York."Competitors in this niche include other closed-end municipal bond funds focused on New York, as well as open-end municipal bond ETFs and mutual funds with New York exposure, and individual municipal bonds."
Market Dynamics
Industry Overview
The municipal bond market is influenced by interest rate movements, the financial health of state and local governments, and changes in tax laws. The demand for tax-exempt income, especially from high-income earners, is a key driver. The market for New York municipal bonds is significant due to the state's large economy and borrowing needs.
Positioning
Invesco Trust For Inv Grade NY Munis (VNM) is positioned as a dedicated vehicle for investors seeking tax-exempt income specifically from New York municipal debt. Its competitive advantage lies in its specialization and established track record in this niche.
Total Addressable Market (TAM)
The total addressable market for municipal bonds is substantial, with trillions of dollars in outstanding debt. For New York municipal bonds, the TAM is also in the hundreds of billions. VNM targets a segment of this market seeking actively managed, closed-end fund structures for income generation.
Upturn SWOT Analysis
Strengths
- Focus on tax-exempt income for New York residents
- Diversified portfolio of investment-grade municipal bonds
- Managed by an experienced investment firm (Invesco)
Weaknesses
- Interest rate sensitivity inherent in bond investments
- Limited to New York municipal debt, reducing geographic diversification
- Closed-end fund structure can lead to trading at discounts or premiums to Net Asset Value (NAV)
Opportunities
- Potential for rising interest rates to increase yields on new bond purchases
- Investor demand for tax-advantaged income
- Economic growth in New York leading to improved credit quality of issuers
Threats
- Rising interest rates negatively impacting bond prices
- Deterioration of credit quality of New York municipal issuers
- Changes in federal or state tax laws affecting the attractiveness of tax-exempt bonds
- Competition from other income-generating investment vehicles
Competitors and Market Share
Key Competitors
- Nuveen New York Municipal Value Fund (NNY)
- BlackRock New York Muni 2028 Term Trust (BQH)
- PIMCO New York Municipal Income Fund III (PNI)
Competitive Landscape
VNM competes based on its specific investment strategy, expense ratio, dividend consistency, and historical performance. Its advantage lies in its long-standing focus on New York investment-grade municipal bonds. Competitors may offer different maturity profiles, leverage, or broader municipal bond exposure.
Growth Trajectory and Initiatives
Historical Growth: Growth for a closed-end fund like VNM is typically measured by the growth in its Net Asset Value (NAV) and its ability to maintain or increase dividend payouts over time. Performance is often benchmarked against relevant municipal bond indices.
Future Projections: Future projections for VNM are contingent on interest rate environments, the performance of the New York municipal bond market, and broader economic conditions. Analyst projections would focus on expected income generation and potential NAV appreciation/depreciation.
Recent Initiatives: Invesco may undertake initiatives related to portfolio management strategies, expense ratio management, or marketing efforts to attract investors to VNM.
Summary
Invesco Trust For Inv Grade NY Munis (VNM) is a specialized closed-end fund focused on New York tax-exempt bonds. Its strength lies in providing targeted income to New York investors, leveraging Invesco's management expertise. However, it faces typical bond market risks like interest rate sensitivity and credit quality concerns of its issuers, alongside the structural challenges of closed-end fund pricing. Continued monitoring of interest rates and the fiscal health of New York entities is crucial.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Invesco Official Website
- SEC Filings (10-K, 10-Q, N-PORT)
- Financial Data Providers (e.g., Bloomberg, Refinitiv, Morningstar)
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. Investment decisions should be made after consulting with a qualified financial advisor and conducting independent research. Data accuracy and completeness are subject to the limitations of available information.
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 NY Munis
Exchange NYSE | Headquaters Atlanta, GA, United States | ||
IPO Launch date 1992-05-13 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
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. The fund primarily invests in investment grade New York 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 New York Municipals. Invesco Trust for Investment Grade New York Municipals was formed on March 27, 1992 and is domiciled in the United States.
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