Shares of Invesco Bond Fund (NYSE:VBF) have earned a consensus rating of “Buy” from the eight brokerages that are currently covering the company. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $35.88.
Several research firms recently commented on VBF. Deutsche Bank AG reiterated a “buy” rating and issued a $36.00 price objective (up previously from $35.00) on shares of Invesco Bond Fund in a research note on Wednesday, October 5th. Citigroup Inc. reiterated a “neutral” rating and issued a $27.00 price objective (down previously from $38.00) on shares of Invesco Bond Fund in a research note on Monday, June 27th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $35.00 price objective (down previously from $37.00) on shares of Invesco Bond Fund in a research note on Thursday, July 7th.
Invesco Bond Fund (NYSE:VBF) opened at 19.05 on Friday. The stock has a 50 day moving average price of $19.29 and a 200 day moving average price of $18.97. Invesco Bond Fund has a 52 week low of $17.46 and a 52 week high of $19.54.
The business also recently announced a monthly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be given a dividend of $0.069 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.83 annualized dividend and a dividend yield of 4.35%.
Several large investors have recently bought and sold shares of VBF. Landscape Capital Management L.L.C. bought a new stake in Invesco Bond Fund during the second quarter valued at about $536,000. Laurion Capital Management LP bought a new stake in Invesco Bond Fund during the second quarter valued at about $475,000. Citigroup Inc. bought a new stake in Invesco Bond Fund during the second quarter valued at about $187,000. Raymond James & Associates increased its stake in Invesco Bond Fund by 11.8% in the second quarter. Raymond James & Associates now owns 18,982 shares of the company’s stock valued at $359,000 after buying an additional 2,000 shares in the last quarter. Finally, Shaker Financial Services LLC bought a new stake in Invesco Bond Fund during the second quarter valued at about $718,000.
About Invesco Bond Fund
Invesco Bond Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to seek interest income while conserving capital. The Fund invests primarily in fixed-rate the United States investment-grade corporate bonds with flexibility to integrate approximately 20% of its total assets in non-investment-grade, the United States dollar denominated and non-United States dollar denominated securities of foreign issuers (both developed and emerging markets).
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