Key Points
- Portfolio Manager Rebecca Setcavage purchased 3,000 VMO shares at an average price of $8.64, investing $25,920 and bringing her holdings to 3,000 shares.
- VMO opened at $8.73, up 1.9%, but remained below its 50-day and 200-day moving averages; the stock has traded between $8.12 and $10.10 over the past year.
- The fund pays a monthly dividend of $0.0625, equivalent to $0.75 annually and an 8.6% yield, while institutional investors and hedge funds own 42.57% of the shares.
Inv Vk Mun Opp (NYSE:VMO - Get Free Report) Portfolio Manager Rebecca Setcavage bought 3,000 shares of the business's stock in a transaction on Tuesday, October 13th. The shares were purchased at an average cost of $8.64 per share, with a total value of $25,920.00. Following the transaction, the portfolio manager owned 3,000 shares in the company, valued at approximately $25,920. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
Inv Vk Mun Opp Stock Up 1.9%
VMO opened at $8.73 on Friday. The stock's 50 day moving average price is $9.21 and its two-hundred day moving average price is $9.54. Inv Vk Mun Opp has a 12-month low of $8.12 and a 12-month high of $10.10.
Inv Vk Mun Opp Increases Dividend
The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, October 14th. This is a positive change from Inv Vk Mun Opp's previous monthly dividend of $0.0625. This represents a $0.75 annualized dividend and a dividend yield of 8.6%.
Hedge Funds Weigh In On Inv Vk Mun Opp
Large investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in Inv Vk Mun Opp by 89.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,277,578 shares of the investment management company's stock valued at $12,610,000 after purchasing an additional 604,561 shares during the period. Worthington Financial Partners LLC acquired a new stake in Inv Vk Mun Opp in the 4th quarter worth $826,000. Kestra Advisory Services LLC increased its holdings in shares of Inv Vk Mun Opp by 19.4% during the 1st quarter. Kestra Advisory Services LLC now owns 523,813 shares of the investment management company's stock worth $4,981,000 after purchasing an additional 85,183 shares during the period. Citadel Advisors LLC bought a new position in shares of Inv Vk Mun Opp during the 2nd quarter worth about $417,000. Finally, Royal Bank of Canada increased its holdings in shares of Inv Vk Mun Opp by 25.6% during the 1st quarter. Royal Bank of Canada now owns 169,567 shares of the investment management company's stock worth $1,612,000 after purchasing an additional 34,600 shares during the period. 42.57% of the stock is currently owned by institutional investors and hedge funds.
About Inv Vk Mun Opp
(
Get Free Report)
Invesco Municipal Opportunity Trust (NYSE: VMO) is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax. The fund primarily invests in a portfolio of municipal securities issued by states, cities, counties, public authorities and other governmental entities in the United States.
The trust may invest in a range of tax-exempt securities, including general obligation and revenue bonds. Revenue bonds are typically backed by income from projects or services such as transportation systems, utilities, hospitals, housing programs and educational facilities.
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