PNC Financial Services Group Inc. Grows Stake 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. lifted its stake in shares of INV VK MUN OPP (NYSE:VMO - Free Report) by 65.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 71,092 shares of the investment management company's stock after acquiring an additional 28,168 shares during the period. PNC Financial Services Group Inc. owned approximately 0.11% of INV VK MUN OPP worth $675,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wakefield Asset Management LLLP increased its position in shares of INV VK MUN OPP by 0.7% in the first quarter. Wakefield Asset Management LLLP now owns 187,884 shares of the investment management company's stock valued at $1,783,000 after acquiring an additional 1,309 shares during the period. Bank of Montreal Can lifted its stake in shares of INV VK MUN OPP by 4.1% in the fourth quarter. Bank of Montreal Can now owns 39,745 shares of the investment management company's stock worth $386,000 after buying an additional 1,578 shares in the last quarter. Riverbridge Partners LLC lifted its stake in shares of INV VK MUN OPP by 7.3% in the first quarter. Riverbridge Partners LLC now owns 24,966 shares of the investment management company's stock worth $237,000 after buying an additional 1,688 shares in the last quarter. US Bancorp DE lifted 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 worth $26,000 after buying an additional 2,174 shares in the last quarter. Finally, Mackay Shields LLC lifted its position in INV VK MUN OPP by 1.2% during the first quarter. Mackay Shields LLC now owns 207,705 shares of the investment management company's stock valued at $1,971,000 after purchasing an additional 2,367 shares during the period. 42.57% of the stock is owned by institutional investors.

INV VK MUN OPP Stock Down 0.1%

Shares of VMO stock opened at $9.24 on Wednesday. INV VK MUN OPP has a 12 month low of $8.81 and a 12 month high of $10.39. The company has a 50 day simple moving average of $9.11 and a two-hundred day simple moving average of $9.35.

INV VK MUN OPP Dividend Announcement

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

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.

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