Invesco PA Value:VPV

    Manage Alerts

    Overview

    As of 10/23/2020

     Share
    Price
    NAVPremium/
    Discount
    Current$12.04$13.87-13.19%
    52 Wk Avg$12.53$13.84-9.56%
    52 Wk High$13.84$14.60-1.78%
    52 Wk Low$9.15$12.29-28.50%
    Regular Distribution TypeIncome Only
    Distribution Rate4.98%
    Distribution Amount$0.0500
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    To provide a high level of current income exempt from federal and Pennsylvania income taxes and where possible under local law, local income and personal property taxes, consistent with preservation of capital. The Fund will invest at least 80% of its assets in Pennsylvania municipal securities rated investment grade at the time of investment, and up to 20% in unrated Pennsylvania municipal securities of comparable quality. The Fund may also make use of derivatives for hedging purposes.

    Capital Structure

    As of 10/23/2020

    Total Investment Exposure:$533.692M
    Total Common Assets:$330.516M
    Common Shares Outstanding:23,829,544
    Leverage

    As of 10/22/2020

    Preferred Share Assets: $137.517M
    Total Debt (USD): $65.660M
    Regulatory Leverage (USD): $137.517M
    Effective Leverage (USD): $203.177M
    Effective Leverage (%): 38.07%
    Annual Expense Ratios

    As of 2/28/2020

      Per Common Share
    Management Fees0.65%
    Other Expenses:0.88%
    Baseline Expense: N/A
    Interest Expense:1.20%
    Total: 2.73%
    Fund Management

    Fund Sponsor
    Invesco Advisers, Inc

    Portfolio Managers
    Mark Paris, Julius Williams, John Connelly, Tim O’Reilly, John Schorle, James D. Phillips

    Basics
    Category: Fixed Income - Municipal-Municipal - Single-State
    Ticker: VPV
    NAV Ticker: XVPVX
    Average Daily Volume (shares): 35,834
    Average Daily Volume (USD): $0.442M
    Inception Date: 4/30/1993
    Inception Share Price: $15.00
    Inception NAV: $14.69
    Tender Offer: No
    Term: No
    Fiscal Year End: February 28
    Third Party Links & Reports

    Distributions

    As of 10/23/2020

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 2/29/2020
    $0.2914
    Annualized Distribution Rate on NAV:
    As of 10/23/2020
    4.33%
    Total Return on NAV (12 months):
    As of 10/23/2020
    3.48%
    Avg. Portfolio Coupon:
    As of 10/23/2020
    6.02%
    Total % Portfolio Effectively Leveraged:
    As of 10/23/2020
    38.07%
    Taxable Equivalent Yield

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 10/23/2020

    PeriodAvg Discount
    6 Month-11.64%
    1 Year-9.56%
    3 Year-10.48%
    5 Year-10.29%
    Z-Score

    As of 10/23/2020

    PeriodZStat
    3 Month-1.37
    6 Month-0.86
    1 Year-1.00
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 9/30/2020
    Category: Morningstar US CEF Municipal-Single State

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD-3.69%3.08%1.04%2.23%
    201919.48%9.60%20.34%9.49%
    20181.31%0.21%-6.32%0.07%
    20175.13%6.55%4.74%6.67%
    20160.15%0.19%2.11%0.25%
    2015-1.83%4.57%7.86%4.96%
    201422.44%17.86%17.65%16.94%
    2013-15.15%-9.13%-15.46%-7.09%
    201214.19%13.97%11.78%13.21%
    201120.48%17.32%18.40%15.27%
    20106.12%2.78%3.51%1.59%
    200962.59%32.53%45.53%27.96%
    2008-30.84%-21.01%-20.17%-14.70%
    2007-3.39%-3.69%  
    20069.83%5.13%  
    2005-10.32%3.47%  
    20046.39%5.88%  
    200310.91%6.85%  
    200214.29%13.40%  
    200119.57%4.51%  
    200015.87%15.56%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 9/30/2020
    Category: Morningstar US CEF Municipal-Single State

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 10/23/2020
    6.02%
    Average Maturity:
    As of 6/30/2020
    17.64 yrs
    Number of Holdings:
    As of 6/30/2020
    218
    Annual Portfolio Turnover:
    As of 2/28/2020
    5.00%
    Average Bond Price:
    As of 6/30/2020
    $112.13
    Asset Allocation

    As of 6/30/2020 reported by Fund Sponsor

    Top Sectors

    As of 6/30/2020 reported by Fund Sponsor

    Sector%Portfolio
    US Municipal Tax Advantaged100.80%
    Municipal (Super Sector)100.80%
    Cash Equivalents0.68%
    Cash Equivalents (Super Sector)0.68%
    Call Exposure

    As of 8/31/2019 reported by Fund Sponsor

    State Allocation

    As of 6/30/2020 reported by Fund Sponsor

    State% Portfolio
    Pennsylvania82.46%
    Puerto Rico3.92%
    VI1.37%
    UN1.24%
    GU0.39%
    Top Holdings

    As of 6/30/2020 reported by Fund Sponsor

    HoldingValue% Portfolio
    GEISINGER AUTH PA HEALTH SYS REV 5%$9.17M2.03%
    PENNSYLVANIA ST TPK COMMN TPK REV 6.25%$7.50M1.66%
    PENNSYLVANIA ST 13.81%$6.89M1.53%
    TENDER OPT BD TR RCPTS / CTFS VAR STS 13.86%$5.69M1.26%
    TENDER OPT BD TR RCPTS / CTFS VAR STS 14.87%$5.08M1.13%
    PENNSYLVANIA ST HIGHER EDL FACS AUTH REV 5%$5.08M1.12%
    MONTGOMERY CNTY PA HIGHER ED & HEALTH AUTH REV 5%$5.03M1.11%
    DELAWARE VALLEY PA REGL FIN AUTH LOC GOVT REV 5.75%$4.97M1.10%
    CUMBERLAND CNTY PA MUN AUTH REV 5%$4.91M1.09%
    Shortfall Swap 0.01 09-15-30$-6.67M-1.48%
    Maturity Breakdown

    As of 6/30/2020 reported by Fund Sponsor

    Country Allocation

    As of 6/30/2020 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income94.53%
    Others - Fixed Income6.27%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    TAXABLE EQUIVALENT YIELD
    1 Taxable equivalent yield is the yield or distribution rate needed from a taxable investment to be economically equal to receiving the stated tax-free yield from a municipal bond investment. Please note that the income levels shown in the calculator do not reflect (i) any federal or state limitations on the amounts of allowable itemized deductions, phaseouts of personal or dependent exemption credits or other allowable credits, (ii) any local taxes imposed, or (iii) any alternative minimum taxes or any taxes other than personal income taxes. The user is responsible for selecting the applicable federal and, as applicable, state tax rates. The stated federal tax rates for joint incomes over $250,000 include the 3.8% medicare tax imposed on the net investment income of certain taxpayers with higher incomes. This calculator is for illustrative purposes only and is not intended to represent actual performance, or to predict future performance, of any Nuveen Investments product. Certain taxpayers may find their effective marginal tax rates to be greater than those shown in the calculator. In that case, the taxable equivalent yield may be even higher.

    The Tax Cuts and Jobs Act of 2017 doubles the standard deduction and implements a limit for itemizing state and local income taxes, state and local property taxes, and sales taxes on 2018 tax filings. Since it is expected that fewer investors will deduct state income taxes for federal filing purposes, this calculator does not contemplate a federal benefit for state taxes paid, and the effective tax rate therefore represents the applicable federal income tax rate plus the applicable state income tax rate. If you itemize your deductions and have not exceeded your cap on deducting state taxes, your taxable equivalent yield will generally be lower than the rate calculated above.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    EWB-1014244PR-E1119W