Rivernorth Capital Management LLC Sells 1,310,437 Shares of Inv Vk Mun Opp $VMO

Key Points

• Rivernorth Capital Management cut its VMO position by 32.4% in the first quarter, selling 1.31 million shares and retaining 2.73 million shares valued at approximately $26.0 million.
• Institutional investors own 42.57% of VMO, with several firms—including Geneos Wealth Management and Northwestern Mutual Wealth Management—recently increasing their holdings.
• VMO traded at $9.68, within its 12-month range of $8.97 to $10.10, and declared a $0.0625 monthly dividend, representing an annualized yield of about 7.7%.

Rivernorth Capital Management LLC decreased its holdings in shares of Inv Vk Mun Opp (NYSE:VMO - Free Report) by 32.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,732,276 shares of the investment management company's stock after selling 1,310,437 shares during the quarter. Inv Vk Mun Opp comprises approximately 1.3% of Rivernorth Capital Management LLC's holdings, making the stock its 12th largest position. Rivernorth Capital Management LLC owned about 4.05% of Inv Vk Mun Opp worth $25,984,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in VMO. Garton & Associates Financial Advisors LLC bought a new stake in shares of Inv Vk Mun Opp in the fourth quarter valued at approximately $33,000. Geneos Wealth Management Inc. increased its position in Inv Vk Mun Opp by 1,328.5% during the second quarter. Geneos Wealth Management Inc. now owns 4,214 shares of the investment management company's stock worth $39,000 after acquiring an additional 3,919 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Inv Vk Mun Opp by 252.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,661 shares of the investment management company's stock worth $70,000 after purchasing an additional 5,490 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Inv Vk Mun Opp by 1,039.1% during the 4th quarter. Global Retirement Partners LLC now owns 8,737 shares of the investment management company's stock worth $84,000 after purchasing an additional 7,970 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of Inv Vk Mun Opp during the fourth quarter valued at about $96,000. 42.57% of the stock is owned by institutional investors.

Inv Vk Mun Opp Stock Performance

NYSE VMO opened at $9.68 on Wednesday. The firm has a 50-day simple moving average of $9.76 and a 200 day simple moving average of $9.74. Inv Vk Mun Opp has a twelve month low of $8.97 and a twelve month high of $10.10.

Inv Vk Mun Opp Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) annualized dividend and a yield of 7.7%.

Inv Vk Mun Opp Profile

Inv Vk Mun Opp NYSE: VMO, known as the Invesco Municipal Opportunity Trust, is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax, along with the potential for capital appreciation. The fund primarily invests in a diversified portfolio of municipal securities issued by U.S. states, cities and local governments. Its investment strategy emphasizes selecting undervalued bonds that offer attractive tax-exempt yields, while maintaining a focus on credit quality and liquidity.

The portfolio manager employs both fundamental credit analysis and relative-value techniques to identify investment opportunities across various sectors of the municipal bond market.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.