VPV - Invesco Pennsylvania Value Municipal Income Trust
A closed-end fund run by Invesco. Invests in tax-free municipal bonds. Listed on the New York Stock Exchange.
Is anyone targeting this fund?
Not right now - Sit Investment was in this fund until Dec 18, 2024 and has since sold down.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
Sit Investment owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.
Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.
What happened, and when
-
Dec 18, 2024
Sit Investment sold down below 5% and stopped reporting.
Original document → -
Dec 12, 2024
Saba sold down below 5% and stopped reporting.
Original document → -
Dec 11, 2024
The buy-back ended; an early count says holders offered 33.9% of all shares.
Original document → -
Dec 11, 2024
The buy-back ended; the fund paid $11.69 a share.
Original document → -
Dec 10, 2024
The buy-back ended; an early count says holders offered 33.9% of all shares.
Original document →
Show all 15 events
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Nov 21, 2024
Saba cut its stake to 8.7% (from 10.1%). It has said it may push for changes.
Original document → -
Nov 13, 2024
Saba cut its stake to 10.1% (from 11.1%). It has said it may push for changes.
Original document → -
Nov 7, 2024
The fund offered to buy back 25% of its shares at 99% of value, until Dec 9, 2024.
Original document → -
Oct 31, 2024
The fund said it will repay some borrowed money on Dec 2, 2024.
Original document → -
Oct 31, 2024
Saba cut its stake to 11.1% (from 12.1%). It has said it may push for changes.
Original document → -
June 14, 2024
Saba filed an updated notice; it still owns 12.1%. It has said it may push for changes.
Original document → -
May 6, 2024
Saba raised its stake to 12.1% (from 11.2%). It has said it may push for changes.
Original document → -
March 28, 2024
Sit Investment changed its mind: it now says it may push for changes. It owns 9.9%.
Original document → -
Feb 9, 2024
Sit Investment now owns 8.4%, as a passive investor.
Original document → -
Jan 4, 2024
Saba now owns 11.2%. It has said it may push for changes.
Original document →
About this fund
- Run by Invesco Advisers, Inc. As of Feb 28, 2026, from the fund's yearly report. Original document →
- Size: about $193 million of holdings, as of May 31, 2026. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund borrows about 35% on top of its own money, as of May 31, 2026. Borrowed money makes gains and losses bigger. About 77% of that is money the fund has borrowed by selling preferred shares. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- Costs: 0.8% a year in management fees; 3.1% a year in total, including interest on borrowed money. Fiscal year ended Feb 28, 2026. As of Feb 28, 2026, from the fund's yearly report. Original document →
- Payouts: last fiscal year (ended Feb 28, 2026) the fund paid $0.80 a share. $0.47 of that was income; $0.33 was your own money back, not income. As of Feb 28, 2026, from the fund's annual report. Original document →
- Value of holdings per share at the last fiscal year end (Feb 28, 2026): $11.06. The shares traded at $10.78, about 2.5% below that. As of Feb 28, 2026, from the fund's yearly report. Original document →
- How the holdings did: down 0.4% over the last three months we have (March-May 2026), before the share price is taken into account. Over the last 12 months: +9.1%. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- How the holdings did over the fiscal year (ended Feb 28, 2026): the value of the holdings returned +3.2%. How the share price did: the shares returned +9.4% over the same year, counting payouts and the change in the market price. As of Feb 28, 2026, from the fund's annual report. Original document →
- First reported to the regulator in 1994.
What the fund holds
Almost all tax-free municipal bonds (100%). About 100% issued in the U.S.
- Pennsylvania (Commonwealth of) Turnpike Commission, Series 2017 A, RB - 5.2%
- Puerto Rico (Commonwealth of), Series 2021 A, GO Bonds - 4.5%
- Pennsylvania Economic Development Financing Authority, Series 2026, RB - 4.2%
- Philadelphia (City of), PA, Series 2024 C, RB - 4.1%
- Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges), Series 2022, RB - 4%
- Allegheny County Sanitary Authority, Series 2025, RB - 3.8%
- Lehigh (County of), PA (Lehigh Valley Health Network), Series 2019, Ref. RB - 3.3%
- Pennsylvania (Commonwealth of) Turnpike Commission, Series 2023 A, Ref. RB - 3%
- Philadelphia (City of), PA, Series 2020 A, RB - 2.6%
- Lehigh (County of), PA General Purpose Authority (Muhlenberg College), Series 2024, Ref. RB - 2.6%
Show all 25
- Philadelphia (City of), PA (1998 General Ordinance), Series 2024, RB - 2.5%
- Montgomery (County of), PA Higher Education & Health Authority (Thomas Jefferson University), Series 2022, Ref. RB - 2.5%
- Pennsylvania (Commonwealth of) Turnpike Commission, Series 2009 C, RB - 2.5%
- Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life Communities, Inc.), Series 2016, Ref. RB - 2.2%
- Lancaster (County of), PA Hospital Authority (Penn State Health), Series 2021, RB - 2.2%
- Pennsylvania (Commonwealth of) Housing Finance Agency (Social Bonds), Series 2023 143-A, RB - 2.2%
- Allegheny (County of), PA Airport Authority (Pittsburgh International Airport), Series 2023 A, RB - 2.2%
- Pennsylvania (Commonwealth of) Turnpike Commission, Series 2017 B-1, RB - 2.1%
- Philadelphia (City of), PA, Series 2017 B, Ref. RB - 2.1%
- Allegheny (County of), PA Airport Authority, Series 2021 A, RB - 2%
- Lancaster (County of), PA Hospital Authority (Landis Homes Retirement Community), Series 2015, Ref. RB - 2%
- Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue), Series 2018 A, Ref. RB - 2%
- Pennsylvania (Commonwealth of) Economic Development Financing Authority (Presbyterian Senior Living), Series 2021, Ref. RB - 1.9%
- Children's Trust Fund, Series 2005 A, RB - 1.9%
- Commonwealth Financing Authority, Series 2018, RB - 1.9%
As of May 31, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
| Date | Investor | Stake | Type of notice |
|---|---|---|---|
| Dec 18, 2024 | Sit Investment | 3.5% | Sold down below 5% |
| Dec 12, 2024 | Saba | 2.8% | Sold down below 5% |
| Nov 21, 2024 | Saba | 8.7% | Updated notice |
| Nov 13, 2024 | Saba | 10.1% | Updated notice |
| Oct 31, 2024 | Saba | 11.1% | Updated notice |
| June 14, 2024 | Saba | 12.1% | Updated notice |
| May 6, 2024 | Saba | 12.1% | Updated notice |
| March 28, 2024 | Sit Investment | 9.9% | May push for changes |
| Feb 9, 2024 | Sit Investment | 8.4% | Updated notice |
| Jan 4, 2024 | Saba | 11.2% | Updated notice |
| Date | What | Deadline | Document |
|---|---|---|---|
| Dec 11, 2024 | Buy-back results | none | Original document → |
| Dec 11, 2024 | Buy-back results | none | Original document → |
| Dec 10, 2024 | Buy-back results | none | Original document → |
| Nov 7, 2024 | Offer to buy back shares | Dec 9, 2024 | Original document → |
| Oct 31, 2024 | Repaying borrowed money | Dec 2, 2024 | Original document → |
- Run by
- Invesco Advisers, Inc.
- Fund family
- INVESCOFDS
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-07398
- Auditor
- PricewaterhouseCoopers LLP
- Fiscal year end
- Feb 28, 2026
- Number of holdings
- 136
- Preferred share classes
- 1
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