PNC Financial Services Group Inc. Has $675,000 Position in Inv Vk Mun Opp (NYSE:VMO)

Key Points

• PNC Financial Services Group Inc. increased its stake in INV VK MUN OPP by 65.6% during the first quarter, now holding approximately 0.11% of the company valued at $675,000.
• Other hedge funds, including Wakefield Asset Management LLLP and US Bancorp DE, also grew their positions in INV VK MUN OPP, indicating increasing institutional interest.
• INV VK MUN OPP recently declared a monthly dividend of $0.0625, with an annualized yield of 8.1%, to be paid on August 29th.

PNC Financial Services Group Inc. increased its stake in Inv Vk Mun Opp (NYSE:VMO - Free Report) by 65.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,092 shares of the investment management company's stock after purchasing an additional 28,168 shares during the quarter. PNC Financial Services Group Inc. owned about 0.11% of Inv Vk Mun Opp worth $675,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. US Bancorp DE lifted its stake in Inv Vk Mun Opp by 413.3% during the first quarter. US Bancorp DE now owns 2,700 shares of the investment management company's stock valued at $26,000 after buying 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 1st quarter valued at about $29,000. Formidable Asset Management LLC acquired a new position in shares of Inv Vk Mun Opp in the 1st quarter valued at about $179,000. Nomura Holdings Inc. acquired a new position in shares of Inv Vk Mun Opp in the 4th quarter valued at about $202,000. Finally, Riverbridge Partners LLC increased its holdings in shares of Inv Vk Mun Opp by 7.3% in the 1st quarter. Riverbridge Partners LLC now owns 24,966 shares of the investment management company's stock valued at $237,000 after purchasing an additional 1,688 shares during the period. Institutional investors and hedge funds own 42.57% of the company's stock.

Inv Vk Mun Opp Price Performance

Shares of VMO traded down $0.01 during trading hours on Friday, reaching $9.27. The company's stock 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 of $9.12 and a two-hundred day moving average of $9.34.

Inv Vk Mun Opp Announces Dividend

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

About Inv Vk Mun Opp

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.