Inv Vk Mun Opp (NYSE:VMO) Sees Large Drop in Short Interest

Inv Vk Mun Opp (NYSE:VMO) saw a large decline in short interest in September. As of September 30th, there was short interest totaling 168,481 shares, a decline of 48.5% from the September 15th total of 327,125 shares. Based on an average daily trading volume, of 553,558 shares, the short-interest ratio is currently 0.3 days. Currently, 0.3% of the shares of the stock are sold short.

Inv Vk Mun Opp Stock Performance

VMO traded down $0.14 on Wednesday, reaching $8.59. 223,577 shares of the company’s stock were exchanged, compared to its average volume of 262,673. The stock’s fifty day moving average price is $9.26 and its 200-day moving average price is $9.55. Inv Vk Mun Opp has a twelve month low of $8.12 and a twelve month high of $10.10.

Inv Vk Mun Opp Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, October 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.7%. This is a boost from Inv Vk Mun Opp’s previous monthly dividend of $0.0625.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new position in shares of Inv Vk Mun Opp in the second quarter valued at approximately $147,000. NewEdge Advisors LLC lifted 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 worth $1,360,000 after buying an additional 10,896 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in Inv Vk Mun Opp during the 2nd quarter worth approximately $244,000. Citadel Advisors LLC acquired a new stake in Inv Vk Mun Opp during the 2nd quarter worth approximately $417,000. Finally, Concurrent Investment Advisors LLC boosted 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 buying an additional 15,318 shares during the period. Hedge funds and other institutional investors own 42.57% of the company’s stock.

About Inv Vk Mun Opp

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.