LPL Financial LLC Increases Stock Position in Inv Vk Mun Opp (NYSE:VMO)

Key Points

• LPL Financial LLC increased its holdings in INV VK MUN OPP by 17.8%, owning approximately 532,899 shares valued at $5,057,000 as of its latest SEC filing.
• Other institutional investors have also made significant increases in their positions, with Guggenheim Capital LLC raising its stake by 48.2% and Ameriprise Financial Inc. boosting its position by 160.3% in the last quarter.
• INV VK MUN OPP announced a monthly dividend of $0.0625, with a projected annualized yield of 8.1%, payable on August 29th to shareholders of record by August 18th.

LPL Financial LLC increased its position in shares of Inv Vk Mun Opp (NYSE:VMO - Free Report) by 17.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 532,899 shares of the investment management company's stock after purchasing an additional 80,657 shares during the period. LPL Financial LLC owned approximately 0.79% of Inv Vk Mun Opp worth $5,057,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in shares of Inv Vk Mun Opp by 160.3% during the 4th quarter. Ameriprise Financial Inc. now owns 299,320 shares of the investment management company's stock worth $2,909,000 after purchasing an additional 184,317 shares during the period. Janney Montgomery Scott LLC boosted its position in Inv Vk Mun Opp by 13.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 43,738 shares of the investment management company's stock valued at $415,000 after buying an additional 5,120 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Inv Vk Mun Opp by 10.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 129,282 shares of the investment management company's stock valued at $1,227,000 after buying an additional 12,459 shares during the period. Nuveen Asset Management LLC boosted its position in Inv Vk Mun Opp by 12.4% in the 4th quarter. Nuveen Asset Management LLC now owns 77,986 shares of the investment management company's stock valued at $758,000 after buying an additional 8,600 shares during the period. Finally, Readystate Asset Management LP purchased a new stake in Inv Vk Mun Opp in the 1st quarter valued at about $282,000. 42.57% of the stock is owned by hedge funds and other institutional investors.

Inv Vk Mun Opp Price Performance

Inv Vk Mun Opp stock traded down $0.01 during trading hours on Friday, hitting $9.27. The company had a trading volume of 169,405 shares, compared to its average volume of 214,133. Inv Vk Mun Opp has a 1 year low of $8.81 and a 1 year high of $10.39. The company has a 50-day moving average price of $9.12 and a two-hundred day moving average price of $9.34.

Inv Vk Mun Opp Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a $0.0625 dividend. This represents a c) annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend is Monday, August 18th.

Inv Vk Mun Opp Company Profile

Invesco Municipal Opportunity Trust is a closed ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States.