Invesco Value Municipal Income Trust

IIM

時価総額 $5.11億

Invesco Value Municipal Income Trust now trades at a premium, prompted partly by a declining NAV, making it less appealing for new investment. IIM's high 7.43% distribution yield is lacking coverage from net investment income, leading to destructive return of capital distributions. Rising risk-free rates and IIM's high leverage-adjusted duration (12.6 years) increase interest rate sensitivity and downside risk on top of the leverage and premium.

ATLANTA, July 1, 2026 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends. EX-DATE   RECORD DATE REINVEST DATE     PAYABLE DATE 7/14/2026   7/14/2026   7/31/2026 7/31/2026   Name of Closed-EndManagement Investment Company Ticker Monthly Dividend Per Share Change FromPrior Distribution Invesco Advantage Municipal Income Trust II VKI $0.05591 - Invesco Bond Fund VBF $0.0665 - Invesco California Value Municipal Income Trust VCV $0.06461 - Invesco High Income Trust II VLT $0.09151 - Invesco Municipal Income Opportunities Trust OIA $0.0291 - Invesco Municipal Opportunity Trust VMO  $0.06251 - Invesco Municipal Trust VKQ  $0.06281 - Invesco Pennsylvania Value Municipal Income Trust VPV  $0.06671 - Invesco Quality Municipal Income Trust IQI  $0.06311 - Invesco Senior Income Trust VVR $0.02901 - Invesco Trust for Investment Grade Municipals VGM  $0.06461 - Invesco Trust for Investment Grade New York Municipals VTN $0.06851 - Invesco Value Municipal Income Trust IIM $0.07711 - 1 A portion of this distribution is estimated to be from a return of principal rather than net income.

ATLANTA, April 1, 2026 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends.

ATLANTA, March 2, 2026 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends.

ATLANTA, Feb. 2, 2026 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends.

Invesco Value Municipal Income Trust (IIM) trades at a narrow discount, making it continue to remain unattractive given its unsustainable distribution coverage. IIM's 7.6% yield relies heavily on potential for capital gains if it is going to be covered at all, with net investment income covering only 61.6% of distributions. Easing rates have helped reduce the borrowing costs, but not materially enough to lead to a positive spread when considering operating expenses.

ATLANTA, Jan. 2, 2026 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends. EX-DATE RECORD DATE REINVEST DATE PAYABLE DATE 1/15/2026 1/15/2026 1/30/2026 1/30/2026   Name of Closed-EndManagement Investment Company   Ticker MonthlyDividend Per Share ChangeFrom PriorDistribution % ChangeFrom PriorDistribution Invesco Advantage Municipal Income Trust II VKI $0.05591 - - Invesco Bond Fund VBF $0.07001 -0.0015 -2 % Invesco California Value Municipal Income Trust   VCV $0.06461 - - Invesco High Income Trust II VLT $0.09401 - - Invesco Municipal Income Opportunities Trust   OIA $0.02911 - - Invesco Municipal Opportunity Trust VMO  $0.06251 - - Invesco Municipal Trust VKQ  $0.06281 - - Invesco Pennsylvania Value Municipal Income Trust VPV  $0.06671 - - Invesco Quality Municipal Income Trust  IQI  $0.06311 - - Invesco Senior Income Trust VVR $0.03801 - - Invesco Trust for Investment Grade Municipals VGM  $0.06461 - - Invesco Trust for Investment Grade New York Municipals VTN $0.06851 - - Invesco Value Municipal Income Trust IIM $0.07711 - - 1 A portion of this distribution is estimated to be from a return of principal rather than net income.

ATLANTA, Dec. 1, 2025 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends.

ATLANTA, Nov. 3, 2025 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends.

The Invesco Value Municipal Income Trust is benefiting from Fed rate cuts, lowering borrowing costs and helping improve distribution coverage. IIM's discount has narrowed to trade near a premium, making it less attractive for value investors, but it is also a favorable rate environment for leveraged CEFs. Distribution coverage is improving, but will unlikely reach 100% NII without a cut; capital appreciation is needed to maintain NAV at current payout levels.