VCV's valuation and income metrics, along with California-specific headwinds, continue to limit its appeal as a buy. Despite a recent price pullback, I do not see enough value in VCV to upgrade my rating. The fund's challenges from earlier in the year remain unresolved, justifying a continued cautious stance.

Evaluating Invesco California Value Municipal Income Trust as a current investment, focusing on its objective of tax-exempt income. Previous mid-2024 analysis showed VCV as a valuable buy for California muni securities, which proved correct with solid returns. Despite recent gains, ongoing California wildfires present a significant risk factor that could impact future performance.

ATLANTA , Dec. 2, 2024 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends. EX-DATE RECORD DATE REINVEST DATE PAYABLE DATE 12/17/2024 12/17/2024 12/31/2024 12/31/2024   Name of Closed-EndManagement Investment Company   Ticker MonthlyDividend Per Share ChangeFrom PriorDistribution % ChangeFrom PriorDistribution Invesco Advantage Municipal Income Trust II VKI $0.05591 - - Invesco Bond Fund VBF $0.08501 +0.0110 +15 % Invesco California Value Municipal Income Trust   VCV $0.06461 - - Invesco Municipal Income Opportunities Trust   OIA $0.0291 - - Invesco Municipal Opportunity Trust VMO  $0.06251 - - Invesco Municipal Trust VKQ  $0.06281 - - Invesco Pennsylvania Value Municipal Income Trust VPV  $0.06671 - - Invesco Quality Municipal Income Trust  IQI  $0.06311 - - Invesco Trust for Investment Grade Municipals VGM  $0.06461 - - Invesco Trust for Investment Grade New York Municipals VTN $0.06851 - - Invesco Value Municipal Income Trust IIM $0.07711 - - 1 A portion of this distribution is estimated to be from a return of principal rather than net income.

ATLANTA , Nov. 1, 2024 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends. EX-DATE RECORD DATE REINVEST DATE PAYABLE DATE 11/15/2024 11/15/2024 11/29/2024 11/29/2024 Name of Closed-EndManagement Investment Company Ticker MonthlyDividend Per Share ChangeFrom PriorDistribution % ChangeFrom PriorDistribution Invesco Advantage Municipal Income Trust II VKI $0.05591 - - Invesco Bond Fund VBF $0.07401 - - Invesco California Value Municipal Income Trust   VCV $0.06461 - - Invesco High Income 2024 Target Term Fund IHTA $0.0200 - - Invesco Municipal Income Opportunities Trust   OIA $0.0291 - - Invesco Municipal Opportunity Trust VMO  $0.06251 - - Invesco Municipal Trust VKQ  $0.06281 - - Invesco Pennsylvania Value Municipal Income Trust VPV  $0.06671 - - Invesco Quality Municipal Income Trust  IQI  $0.06311 - - Invesco Trust for Investment Grade Municipals VGM  $0.06461 - - Invesco Trust for Investment Grade New York Municipals VTN $0.06851 - - Invesco Value Municipal Income Trust IIM $0.07711 - - 1 A portion of this distribution is estimated to be from a return of principal rather than net income.

ATLANTA , Sept. 3, 2024 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends.

VCV has an attractive tax-adjusted yield, especially for high-income residents of California. The fund has a lot of momentum and further buying could be spurred by the discount to NAV. The recent budget passed by the state legislature shows that spending cuts and tax hikes are on the way, supporting the credit quality of the state's muni bonds.

ATLANTA , Aug. 1, 2024 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below declared dividends. EX-DATE RECORD DATE REINVEST DATE PAYABLE DATE 8/16/2024 8/16/2024 8/30/2024 8/30/2024   Name of Closed-EndManagement Investment Company   Ticker MonthlyDividend Per Share ChangeFrom PriorDistribution % ChangeFrom PriorDistribution Invesco Advantage Municipal Income Trust II VKI $0.05591 - - Invesco Bond Fund VBF $0.0715 - - Invesco California Value Municipal Income Trust   VCV $0.06461 - - Invesco High Income 2024 Target Term Fund IHTA $0.0200 -0.0130 -39 % Invesco Municipal Income Opportunities Trust   OIA $0.02911 - - Invesco Municipal Opportunity Trust VMO  $0.06251 - - Invesco Municipal Trust VKQ  $0.06281 - - Invesco Pennsylvania Value Municipal Income Trust VPV  $0.06671 - - Invesco Quality Municipal Income Trust  IQI  $0.06311 - - Invesco Trust for Investment Grade Municipals VGM  $0.06461 - - Invesco Trust for Investment Grade New York Municipals VTN $0.06851 - - Invesco Value Municipal Income Trust IIM $0.07711 - - 1 A portion of this distribution is estimated to be from a return of principal rather than net income.

ATLANTA , May 23, 2024 /PRNewswire/ -- The Board of Trustees authorized several Invesco closed-end funds to declare dividends.  This action includes an increase in the distribution rate for all investment grade municipal bond closed-end funds.

ATLANTA , April 1, 2024  /PRNewswire/ -- Today, the Board of Trustees of each of the Invesco closed-end funds listed below declared dividends. Several leveraged municipal closed-end funds have announced distribution rate increases of between 9% and 23% to deliver higher monthly cash flows to shareholders.

ATLANTA , Jan. 29, 2024 /PRNewswire/ -- Today, the Board of Trustees of each of the Invesco closed-end funds listed below declared dividends. Several leveraged municipal closed-end funds have announced distribution rate increases of between 9% and 23% to deliver higher monthly cash flows to shareholders.