Rivernorth Capital Management LLC Lowers Position in Inv Vk Mun Opp $VMO

Rivernorth Capital Management LLC trimmed its holdings in shares of Inv Vk Mun Opp (NYSE:VMO) by 37.7% in the second quarter, Holdings Channel reports. The firm owned 1,703,324 shares of the investment management company’s stock after selling 1,028,952 shares during the period. Inv Vk Mun Opp comprises 0.8% of Rivernorth Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Rivernorth Capital Management LLC’s holdings in Inv Vk Mun Opp were worth $16,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its position in Inv Vk Mun Opp by 89.8% in the second 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 buying an additional 604,561 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Inv Vk Mun Opp by 121.2% during the second quarter. Ameriprise Financial Inc. now owns 747,429 shares of the investment management company’s stock valued at $6,853,000 after acquiring an additional 409,601 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Inv Vk Mun Opp by 42.8% during the fourth quarter. Advisors Asset Management Inc. now owns 637,733 shares of the investment management company’s stock valued at $6,103,000 after acquiring an additional 191,246 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Inv Vk Mun Opp by 30.7% in the 4th quarter. Wells Fargo & Company MN now owns 591,204 shares of the investment management company’s stock valued at $5,658,000 after acquiring an additional 138,904 shares during the period. Finally, LPL Financial LLC raised its stake in shares of Inv Vk Mun Opp by 11.6% in the 4th quarter. LPL Financial LLC now owns 1,075,653 shares of the investment management company’s stock valued at $10,294,000 after acquiring an additional 112,110 shares during the period. 42.57% of the stock is currently owned by hedge funds and other institutional investors.

Inv Vk Mun Opp Stock Performance

Shares of VMO stock opened at $9.73 on Monday. The firm’s 50 day moving average price is $9.78 and its 200-day moving average price is $9.75. Inv Vk Mun Opp has a one year low of $9.15 and a one year high of $10.10.

Inv Vk Mun Opp Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.0625 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Monday, August 17th.

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.