Core Viewpoint - Invesco closed-end funds have declared dividends for various funds, with specific details on dividend amounts and changes from prior distributions. Dividend Declaration - The ex-date and record date for the dividends is set for January 15, 2026, with the payable date on January 30, 2026 [2] - The dividends per share for selected funds include: - Invesco Advantage Municipal Income Trust II (VKI): $0.0559 - Invesco Bond Fund (VBF): $0.0700, a decrease of $0.0015 or 2% from prior distribution - Invesco California Value Municipal Income Trust (VCV): $0.0646 - Invesco High Income Trust II (VLT): $0.0940 - Invesco Municipal Income Opportunities Trust (OIA): $0.0291 - Invesco Municipal Opportunity Trust (VMO): $0.0625 - Invesco Municipal Trust (VKQ): $0.0628 - Invesco Pennsylvania Value Municipal Income Trust (VPV): $0.0667 - Invesco Quality Municipal Income Trust (IQI): $0.0631 - Invesco Senior Income Trust (VVR): $0.0380 - Invesco Trust for Investment Grade Municipals (VGM): $0.0646 - Invesco Trust for Investment Grade New York Municipals (VTN): $0.0685 - Invesco Value Municipal Income Trust (IIM): $0.0771 [2] Tax Reporting - Form 1099-DIV will report distributions for federal income tax purposes, and each fund's annual report will include information regarding the tax character of distributions for the fiscal year [3] - The final determination of the source and tax characteristics of all distributions in 2026 will be made after the end of the year [4] Shareholder Communication - Each fund will provide shareholders with a Section 19 Notice disclosing the sources of its dividend payment when a distribution includes anything other than net investment income [4] - This notice is for informational purposes only and can be found on the fund's website [4] Company Overview - Invesco Ltd. is a global independent investment management firm managing $2.1 trillion in assets as of September 30, 2025, with a presence in over 20 countries [6]

Market Overview - The U.S. markets ended the final trading week of 2025 on a mixed note, with optimism over AI growth offset by caution regarding Federal Reserve policy signals [1] - Despite thin year-end liquidity, late pullbacks in all three major benchmark indexes kept the broader bull trend intact as market participants positioned for 2026 [1] Macroeconomic Indicators - Initial jobless claims fell unexpectedly by 16,000 to a seasonally adjusted 199,000 for the week ended Dec. 27, the lowest since the end of November, signaling continued labor market strength [2] - Pending home sales unexpectedly rose 3.3% in November, marking the largest seasonal rise since 2023 [2] Federal Reserve Policy - The Fed has successfully kept inflation stable and near its 2% target, with a current overnight borrowing rate in the range of 3.50-3.75% [3] - The pace of further easing may slow, even though markets are expecting two additional quarter-point cuts in 2026 [3] Dividend-Paying Stocks - Investors looking to diversify their portfolios can consider dividend-paying stocks, which indicate a healthy business model and can counter market upheavals [4] - Stocks that have raised dividends recently tend to outperform non-dividend-paying entities in a highly volatile market [4] Company Highlights The Ensign Group - The Ensign Group provides health care services in the post-acute care continuum and has a Zacks Rank 2 (Buy) [5] - On Dec. 19, ENSG declared a dividend of 7 cents a share, with a dividend yield of 0.1% [5] - Over the past five years, ENSG has increased its dividend five times, with a payout ratio of 4% of earnings [6] Invesco Mortgage Capital - Invesco Mortgage Capital is a real estate investment trust with a Zacks Rank 1 (Strong Buy) [7] - On Dec. 18, IVR declared a dividend of 36 cents a share, reflecting a dividend yield of 17.3% [7] - IVR has increased its dividend four times in the past five years, with a payout ratio of 58% of earnings [8] ABM Industries - ABM Industries is a provider of integrated facility solutions with a Zacks Rank 3 (Hold) [9] - On Dec. 17, ABM announced a dividend of 29 cents a share, yielding 2.5% [9] - Over the past five years, ABM has increased its dividend six times, with a payout ratio of 31% of earnings [11] Franklin Resources - Franklin Resources is a global investment management company with a Zacks Rank 3 [12] - On Dec. 17, BEN declared a dividend of 33 cents a share, yielding 5.5% [12] - Over the past five years, BEN has increased its dividend five times, with a payout ratio of 58% of earnings [13] Norwood Financial - Norwood Financial is a bank holding company with a Zacks Rank 3 [14] - On Dec. 16, NWFL announced a dividend of 32 cents a share, yielding 4.4% [14] - Over the past five years, NWFL has increased its dividend six times, with a payout ratio of 47% of earnings [14]

Core Viewpoint - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals [1] Group 1 - Invesco emphasizes the importance of understanding investment objectives, risks, charges, and expenses before making investment decisions [1] - The firm provides educational information but does not offer specific investment recommendations or tax advice [1] - Invesco's opinions are based on current market conditions and may change without notice, indicating a dynamic approach to investment management [1] Group 2 - Invesco Distributors, Inc. serves as the US distributor for Invesco Ltd.'s retail products and collective trust funds [1] - The company operates through various affiliated investment advisers that provide advisory services without selling securities [1] - Invesco Unit Investment Trusts are distributed by Invesco Capital Markets, Inc. and other broker-dealers, highlighting the firm's extensive distribution network [1]

Core Viewpoint - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals [1] Group 1 - Invesco offers expert investment views through its US Blog, encouraging individuals to stay informed [1] - The firm emphasizes the importance of reading the prospectus and considering investment objectives, risks, charges, and expenses before investing [1] - Invesco does not provide tax advice and highlights the complexity and variability of federal and state tax laws [1] Group 2 - The opinions expressed by Invesco's authors are based on current market conditions and may change without notice [1] - Invesco's investment advisory services are provided by affiliated investment advisers, and they do not sell securities [1] - Invesco Unit Investment Trusts are distributed by Invesco Capital Markets, Inc., and other broker-dealers [1]

Core Viewpoint - Neuberger High Yield Strategies Fund Inc. has declared a distribution of $0.0905 per share, payable on January 30, 2026, with a record date of January 15, 2026, and an ex-date of January 15, 2026 [1] Distribution Policy - The Fund plans to maintain regular monthly distributions of $0.0905 per share, subject to market conditions, unless a different amount is determined [2] - The ability to sustain the current distribution rate depends on factors such as income stability from investments, leverage costs, and other fees and expenses [2] Distribution Composition - Future distributions may include net investment income, net realized capital gains, and return of capital to maintain a stable distribution amount [3] - A notice will be provided for any distribution not solely consisting of net investment income, detailing estimated portions of the distribution [3] Company Overview - Neuberger Berman is an independent investment manager founded in 1939, managing $558 billion across various asset classes for global institutions and individuals [4] - The firm emphasizes active management, fundamental research, and engaged ownership, and has been recognized as a top workplace in the money management sector [4]

Core Viewpoint - Wilmington Capital Management Inc. announced changes to its Board of Directors as part of a transition plan aimed at supporting long-term growth [1][2][3] Board Changes - Messrs. Joseph Killi, Christopher Killi, and Marc Sardachuk have stepped down from their roles as Directors and Officers of the Corporation, with gratitude expressed for their significant contributions during their tenure [2] - New appointments to the Board include Messrs. Irfhan Rawji, Francis Cooke, and Matt Rachiele, who bring diverse experience to support the Corporation's growth strategy [3] Company Overview - Wilmington is a Canadian investment company focused on seeking investment opportunities in alternative asset classes for long-term capital appreciation rather than current income returns [4] - The Corporation invests its own capital alongside partners and co-investors in hard assets and private equity funds, managing these assets through operating entities [4]

Market Overview - The current market is trading near all-time highs, but this should not deter investors from starting to invest, as waiting for a pullback can be a significant trap [1] - The S&P 500 reaches new highs approximately 7% of trading days, and on about one-third of those occasions, the index does not trade lower [2] Bull Market Insights - The current bull market has surpassed three years, with historical data indicating that bull markets lasting three years typically reach the four-year mark [3] - Historical trends show that when the market rallies over a six-month period by more than 35%, it tends to trade higher in the following 12 months [3] Timing and Investment Strategy - Investors who wait for a pullback must also time their entry correctly, as missing the initial gains can significantly reduce returns; bull markets often see an average gain of over 13% in the first month and over 25% in the first three months [4] - Missing the 10 best market days over a 20-year period can nearly halve an investor's returns [5] Investment Approach - Dollar-cost averaging is recommended as a strategy to mitigate market timing risks, allowing for consistent investment regardless of market conditions [6] - A suggested starting point for dollar-cost averaging is to invest a small amount, such as $100, regularly into a top exchange-traded fund (ETF) [6] Recommended Investment - The Invesco QQQ Trust (NASDAQ: QQQ) is highlighted as a favorable ETF, mirroring the performance of the Nasdaq-100 index, which is heavily weighted towards growth stocks and AI leaders [7] - The top 10 holdings of the Invesco QQQ Trust constitute approximately half of its portfolio, focusing on companies leading in AI [7] - Despite the market's high levels, growth and tech stocks, particularly through the Invesco QQQ Trust, are seen as strong investment opportunities [8]

Core Insights - Warren Buffett is recognized as a living legend in the investment world, serving as the CEO of Berkshire Hathaway and renowned for his exceptional stock-picking abilities [1] Company Overview - Berkshire Hathaway is publicly traded on the NYSE under the ticker symbol BRK-B [1]

Group 1: Company Overview - DigitalBridge (DBRG) shares increased by 9.6% to $15.26 in the last trading session, with a notable trading volume, and have gained 43.4% over the past four weeks [1][2] - The company has entered into an acquisition deal with SoftBank Group valued at $4 billion, with SoftBank set to acquire all outstanding common stock of DigitalBridge for $16 per share in cash, representing a 15% premium to the closing price on December 26, 2025, and a 50% premium to the unaffected 52-week average closing price as of December 4, 2025 [2] Group 2: Financial Performance - DigitalBridge is expected to report quarterly earnings of $0.08 per share, reflecting a year-over-year decline of 27.3%, with revenues projected at $100.26 million, down 1.3% from the previous year [3] - The consensus EPS estimate for DigitalBridge has remained unchanged over the last 30 days, indicating a lack of upward revisions which typically correlate with stock price movements [5] Group 3: Industry Context - DigitalBridge is part of the Zacks Financial - Investment Management industry, which includes other companies like MSCI, that closed 0.1% higher at $585.76 and has returned 3.8% in the past month [6] - MSCI's consensus EPS estimate for its upcoming report is $4.58, showing a year-over-year increase of 9.6%, with its Zacks Rank also at 3 (Hold) [7]

Core Viewpoint - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals [1] Group 1 - Invesco emphasizes the importance of understanding investment objectives, risks, charges, and expenses before making investment decisions [1] - The firm provides educational information but does not offer specific investment recommendations or tax advice [1] - Invesco's opinions are based on current market conditions and may change without notice, indicating a dynamic approach to investment management [1] Group 2 - Invesco Distributors, Inc. serves as the US distributor for Invesco Ltd.'s retail products and collective trust funds [1] - The company operates through various affiliated investment advisers that provide advisory services without selling securities [1] - Invesco Unit Investment Trusts are distributed by Invesco Capital Markets, Inc. and other broker-dealers, highlighting the firm's extensive distribution network [1]