Welcome to our dedicated page for Invesco Trust for Investment Grade New York Municipals news (Ticker: VTN), a resource for investors and traders seeking the latest updates and insights on Invesco Trust for Investment Grade New York Municipals stock.
Invesco Trust for Investment Grade New York Municipals (VTN) is a diversified closed-end management investment company. Its primary objective is to provide common shareholders with a high level of current income that is exempt from federal, New York State, and New York City income taxes, while also maintaining the preservation of capital. Established with a commitment to delivering consistent returns, the trust focuses on municipal bonds and other high-quality investments that are designed to generate tax-exempt income.
Managed by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), VTN benefits from the global expertise and resources of its parent company. Invesco Ltd. is a worldwide independent investment management firm overseeing assets worth US$1.59 trillion as of December 31, 2023. With offices in over 20 countries, Invesco Ltd. offers a comprehensive range of active, passive, and alternative investment capabilities.
Recently, on April 1, 2024, Invesco announced changes to its portfolio management team, ensuring the fund continues to be managed by experienced professionals committed to achieving its investment objectives. The updates reflect the firm's dedication to adapting to market changes and optimizing portfolio performance.
VTN's investment strategy focuses primarily on high-grade municipal securities, which provide a reliable source of tax-exempt income. This approach aims to balance income generation with capital preservation, appealing to investors seeking stable returns without the burden of federal or state taxes. Additionally, the trust's diversified portfolio helps mitigate risk, offering shareholders a well-rounded investment option.
While there is no guarantee that VTN will achieve its investment objectives, the trust's consistent performance and strategic management position it as a significant player in the municipal bond market. Investors should be aware that shares are bought on the secondary market and may trade at a discount or premium to their net asset value (NAV), and standard brokerage commissions apply.
VTN continues to attract investors looking for dependable, tax-exempt income and capital preservation. It remains a top choice for those interested in municipal bonds, supported by Invesco's robust and strategic management approach.
Invesco Advisers has announced the final results of tender offers for two municipal funds. For Invesco Trust for Investment Grade New York Municipals (VTN), approximately 6.8M shares (35%) were tendered, with the fund accepting 4.9M shares (71.42% of tendered) at $11.87 per share, representing 99% of NAV. Post-purchase, VTN will have 14.6M shares outstanding.
For Invesco Pennsylvania Value Municipal Income Trust (VPV), about 8.1M shares (33.9%) were tendered, with the fund accepting 6M shares (73.79% of tendered) at $11.69 per share, also at 99% of NAV. After the purchase, VPV will have 17.9M shares outstanding.
Invesco Advisers announced the expiration of tender offers for two municipal funds: Invesco Trust for Investment Grade New York Municipals (VTN) and Invesco Pennsylvania Value Municipal Income Trust (VPV). For VTN, approximately 6,818,415 shares (35%) were tendered against an offer for 4,869,438 shares (25%). For VPV, about 8,073,690 shares (33.9%) were tendered against an offer for 5,957,386 shares (25%). Due to oversubscription, shares will be purchased on a prorated basis.
Both funds will make cash payments at 99% of their net asset value as of December 10, 2024, with payments expected within seven business days after the December 9 expiration date.
Invesco Advisers announced details of tender offers for two municipal funds: Invesco Trust for Investment Grade New York Municipals (NYSE: VTN) and Invesco Pennsylvania Municipal Income Trust (NYSE: VPV). Each Fund will conduct a cash tender offer for 25% of outstanding common shares at 99% of NAV. The offers will run from November 7 to December 9, 2024. If more shares are tendered than authorized, purchases will be made on a prorated basis. The tender offers are part of agreements with Saba Capital Management, which has agreed to certain standstill covenants. Both funds have recently traded at a discount to their NAV.
Saba Capital Management announced standstill agreements with Invesco Pennsylvania Value Municipal Income Trust (NYSE: VPV) and Invesco Trust for Investment Grade New York Municipals (NYSE: VTN). Under these agreements, both Invesco Funds will initiate cash tender offers for up to 25% of their outstanding shares at 99% of the net asset value (NAV). These offers will commence between October 31, 2024, and November 8, 2024. Shareholders can tender their shares at a price determined by the NAV on the next trading day after the offer’s expiration or extension. Saba will also withdraw its proposal to nominate candidates for the Invesco Funds’ Boards of Trustees and vote in line with the Boards' recommendations during the standstill period. Additionally, Saba has committed to tendering all its shares in the tender offers.
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