Invesco Bond Fund (NYSE:VBF)‘s stock had its “buy” rating reissued by analysts at Deutsche Bank AG in a research note issued on Wednesday. They presently have a $36.00 price objective on the stock, up from their prior price objective of $35.00. Deutsche Bank AG’s target price would indicate a potential upside of 86.29% from the company’s current price.
VBF has been the subject of several other research reports. Barclays PLC reissued an “overweight” rating and set a $35.00 target price (down previously from $37.00) on shares of Invesco Bond Fund in a report on Thursday, July 7th. Citigroup Inc. reissued a “neutral” rating and set a $27.00 target price (down previously from $38.00) on shares of Invesco Bond Fund in a report on Monday, June 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $36.38.
Invesco Bond Fund (NYSE:VBF) opened at 19.33 on Wednesday. The company has a 50 day moving average of $19.32 and a 200-day moving average of $18.94. Invesco Bond Fund has a one year low of $17.46 and a one year high of $19.54.
The company also recently disclosed a monthly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be issued a $0.069 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.83 dividend on an annualized basis and a yield of 4.28%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. bought a new stake in Invesco Bond Fund during the second quarter worth approximately $187,000. Gilman Hill Asset Management LLC boosted its stake in Invesco Bond Fund by 9.1% in the second quarter. Gilman Hill Asset Management LLC now owns 12,000 shares of the company’s stock worth $227,000 after buying an additional 1,000 shares in the last quarter. Raymond James & Associates boosted 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 worth $359,000 after buying an additional 2,000 shares in the last quarter. Laurion Capital Management LP bought a new stake in Invesco Bond Fund during the second quarter worth approximately $475,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Invesco Bond Fund during the second quarter worth approximately $536,000.
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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