Mackay Shields LLC Has $2.83 Million Stake in INV VK MUN OPP $VMO

Key Points

• Mackay Shields LLC increased its stake in INV VK MUN OPP (NYSE:VMO) by 48.1%, owning 307,705 shares valued at $2.83 million after purchasing 100,000 additional shares in the second quarter.
• The stock price of INV VK MUN OPP opened at $9.70, with a 52-week range between $8.81 and $10.17, and continues to trade exceeding its fifty-day moving average of $9.38.
• INV VK MUN OPP announced a monthly dividend of $0.0625 per share, which translates to an annualized yield of 7.7% for shareholders of record as of October 16th.

Mackay Shields LLC lifted its position in INV VK MUN OPP (NYSE:VMO - Free Report) by 48.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,705 shares of the investment management company's stock after purchasing an additional 100,000 shares during the quarter. Mackay Shields LLC owned 0.46% of INV VK MUN OPP worth $2,825,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of VMO. US Bancorp DE raised its stake in shares of INV VK MUN OPP by 413.3% in the first quarter. US Bancorp DE now owns 2,700 shares of the investment management company's stock valued at $26,000 after purchasing an additional 2,174 shares in the last quarter. CBIZ Investment Advisory Services LLC acquired a new position in shares of INV VK MUN OPP in the first quarter valued at $29,000. Concorde Asset Management LLC acquired a new position in shares of INV VK MUN OPP in the first quarter valued at $95,000. Ackerman Capital Advisors LLC acquired a new position in shares of INV VK MUN OPP in the first quarter valued at $97,000. Finally, Jane Street Group LLC acquired a new position in shares of INV VK MUN OPP in the first quarter valued at $156,000. 42.57% of the stock is currently owned by institutional investors and hedge funds.

INV VK MUN OPP Trading Up 0.5%

INV VK MUN OPP stock opened at $9.70 on Friday. The stock has a fifty day moving average price of $9.38 and a two-hundred day moving average price of $9.25. INV VK MUN OPP has a 52-week low of $8.81 and a 52-week high of $10.17.

INV VK MUN OPP Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be paid a dividend of $0.0625 per share. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date is Thursday, October 16th.

INV VK MUN OPP 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.