Karpus Management Discloses Passive Stake in Invesco Muni Trust

TL;DR

**Karpus Management just revealed a big, passive stake in Invesco's muni trust.**

AI Summary

Karpus Management, Inc. has filed an SC 13G, indicating they beneficially own shares in Invesco Trust for Investment Grade Municipals (CUSIP 46131M106) as of December 31, 2023. This filing, made under Rule 13d-1(b), signifies that Karpus Management is a passive investor and holds a significant stake, which could influence future shareholder votes or signal confidence in the trust's municipal bond investments. For investors, this means a notable institutional investor has taken a position, potentially lending credibility or stability to the stock.

Why It Matters

This filing reveals a significant institutional investor's position, which can influence market perception and potentially signal a vote of confidence in the Invesco Trust for Investment Grade Municipals.

Risk Assessment

Risk Level: low — An SC 13G filing typically indicates a passive investment, posing minimal immediate risk to the company or its shareholders.

Analyst Insight

Investors should note the presence of Karpus Management, Inc. as a significant, passive shareholder. While not an active play, it signals institutional interest in Invesco Trust for Investment Grade Municipals, which could be a positive long-term indicator for stability or future liquidity. Monitor subsequent filings for any change in their passive intent.

Key Players & Entities

• Karpus Management, Inc. (company) — the entity filing the SC 13G, reporting beneficial ownership
• Invesco Trust for Investment Grade Municipals (company) — the subject company in which shares are beneficially owned
• December 31, 2023 (date) — the date of the event requiring the filing of this statement
• 46131M106 (other) — the CUSIP number for the Common class of securities

FAQ

Filing Documents

• karpus-sch13g_18788.htm (SC 13G) — 74KB
• 0001072613-24-000220.txt ( ) — 75KB

(a)

Item 1(a). Name of Issuer: Invesco Trust for Investment Grade Municipals

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: 1555 Peachtree Street, N.E., Suite 1800 Atlanta, Georgia 30309

(a)

Item 2(a). Name of Person Filing: This Person”). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc (“CLIG”), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG. The Shares to which this Schedule 13G relates are owned directly by the accounts managed by Karpus.

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: 183 Sully's Trail, Pittsford, New York 14534.

(c)

Item 2(c). Citizenship: The members of the Karpus Management Committee are US citizens. Karpus is a New York corporation.

(d)

Item 2(d). Title of Class of Securities. Common

(e)

Item 2(e). CUSIP Number. 46131M106 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with 240.13d-1(b)(1)(ii)(K). CUSIP No. 46131M106 13G Page 4 of 5 Pages Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 3,199,553 (b) Percent of Class: 5.90% (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: 3,199,553 (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 3,199,553 (iv) Shared power to dispose or to direct the disposition of: 0 Item 5. of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: February 13, 2024 KARPUS MANAGEMENT, INC. By: /s/ Jodi L. Hedberg Name: Jodi L. Hedberg Title: Chief Compliance Officer

View Full Filing

View this SC 13G filing on SEC EDGAR