Invesco Advantage Municipal Income Trust II

Invesco Advantage Municipal Income Trust II is a closed-end fixed income mutual fund focused on generating a high level of current income exempt from federal income tax. Established in 1993 and managed by a team at Invesco, the trust invests primarily in investment-grade municipal securities—such as municipal bonds, notes, commercial paper, and lease obligations—issued within the United States. Its portfolio emphasizes sectors like hospitals, airports, and local general obligations, with exposure across key states including New York, Texas, and California. The trust's strategy leverages in-depth fundamental credit research and a bottom-up security selection process to identify value opportunities in the municipal market. Utilizing the closed-end structure, it can employ higher leverage levels than open-ended vehicles, aiming to maximize tax-exempt income while navigating shareholder inflow and outflow pressures. The fund’s approach supports investors seeking stable, federally tax-free income and plays a significant role in distributing capital to infrastructure and public projects through the municipal bond market.