Invesco Advantage Municipal Income Trust II is a diversified, closed-end management investment company. The Trust's investment objective is to provide common shareholders with a high level of current income exempt from federal income tax, consistent with preservation of capital. Under normal market conditions, it will invest at least 80% of its assets in municipal securities rated investment grade at the time of investment. Municipal securities include municipal bonds, municipal notes, municipal commercial paper and lease obligations. The Trust may also invest up to 20% of its net assets in non-investment-grade and unrated securities that it determines to be of comparable quality. Its investment adviser is Invesco Advisers, Inc.