Inv Vk Mun Opp (NYSE:VMO) Reaches New 12-Month Low – Time to Sell?

Inv Vk Mun Opp (NYSE:VMO) reached a new 52-week low during trading on Thursday. The stock traded as low as $8.79 and last traded at $8.8350, with a volume of 787424 shares traded. The stock had previously closed at $9.14.

Inv Vk Mun Opp Trading Up 0.0%

The firm’s fifty day moving average is $9.54 and its 200 day moving average is $9.65.

Inv Vk Mun Opp Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be given a dividend of $0.0625 per share. This represents a $0.75 annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Monday, September 14th.

Institutional Investors Weigh In On Inv Vk Mun Opp

Hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. bought a new stake in shares of Inv Vk Mun Opp during the 2nd quarter worth approximately $147,000. NewEdge Advisors LLC boosted its holdings in Inv Vk Mun Opp by 8.6% during the 2nd quarter. NewEdge Advisors LLC now owns 137,771 shares of the investment management company’s stock valued at $1,360,000 after acquiring an additional 10,896 shares during the period. Baird Financial Group Inc. bought a new position in Inv Vk Mun Opp in the 2nd quarter valued at $244,000. Citadel Advisors LLC bought a new position in Inv Vk Mun Opp in the 2nd quarter valued at $417,000. Finally, Concurrent Investment Advisors LLC grew its position in Inv Vk Mun Opp by 40.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 53,559 shares of the investment management company’s stock valued at $529,000 after acquiring an additional 15,318 shares during the last quarter. 42.57% of the stock is currently owned by hedge funds and other institutional investors.

About Inv Vk Mun Opp

Invesco Municipal Opportunity Trust (NYSE: VMO) is a closed-end 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, municipalities and other public-sector entities in the United States.

The portfolio may include tax-exempt bonds and other debt obligations used to finance public infrastructure and services, such as schools, transportation systems, utilities and healthcare facilities.