Rivernorth Capital Management LLC Has $25.98 Million Stock Position in Inv Vk Mun Opp $VMO

Rivernorth Capital Management LLC cut its holdings in shares of Inv Vk Mun Opp (NYSE:VMO) by 32.4% during the first quarter, Holdings Channel reports. The fund owned 2,732,276 shares of the investment management company’s stock after selling 1,310,437 shares during the period. Inv Vk Mun Opp makes up about 1.3% of Rivernorth Capital Management LLC’s portfolio, making the stock its 12th biggest position. Rivernorth Capital Management LLC’s holdings in Inv Vk Mun Opp were worth $25,984,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. StoneX Group Inc. raised its holdings in shares of Inv Vk Mun Opp by 3.6% in the fourth quarter. StoneX Group Inc. now owns 31,179 shares of the investment management company’s stock valued at $298,000 after buying an additional 1,093 shares during the last quarter. Wakefield Asset Management LLLP increased its holdings in shares of Inv Vk Mun Opp by 0.7% in the fourth quarter. Wakefield Asset Management LLLP now owns 191,104 shares of the investment management company’s stock valued at $1,829,000 after purchasing an additional 1,309 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Inv Vk Mun Opp by 9.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 17,000 shares of the investment management company’s stock valued at $163,000 after buying an additional 1,500 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Inv Vk Mun Opp by 7.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 33,474 shares of the investment management company’s stock worth $320,000 after purchasing an additional 2,435 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Inv Vk Mun Opp by 5.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 53,762 shares of the investment management company’s stock valued at $514,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors own 42.57% of the company’s stock.

Inv Vk Mun Opp Stock Performance

Shares of NYSE:VMO opened at $9.68 on Wednesday. The company has a 50 day moving average of $9.76 and a 200-day moving average of $9.74. Inv Vk Mun Opp has a one year low of $8.97 and a one year high of $10.10.

Inv Vk Mun Opp Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%.

Inv Vk Mun Opp Profile

Inv Vk Mun Opp (NYSE: VMO), known as the Invesco Municipal Opportunity Trust, is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax, along with the potential for capital appreciation. The fund primarily invests in a diversified portfolio of municipal securities issued by U.S. states, cities and local governments. Its investment strategy emphasizes selecting undervalued bonds that offer attractive tax-exempt yields, while maintaining a focus on credit quality and liquidity.

The portfolio manager employs both fundamental credit analysis and relative-value techniques to identify investment opportunities across various sectors of the municipal bond market.