Inv Vk Mun Opp $VMO Shares Sold by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. reduced its stake in Inv Vk Mun Opp (NYSE:VMO) by 9.6%, selling 131,574 shares and owning approximately $11.8 million worth of shares at the end of the first quarter.
• Several institutional investors increased their holdings in Inv Vk Mun Opp, with US Bancorp DE raising its stake by 413.3%, now owning 2,700 shares worth $26,000.
• The company announced a monthly dividend of $0.0625 per share, which equates to an annual yield of 8.1%, with an ex-dividend date of August 18th.

Sit Investment Associates Inc. lessened its stake in Inv Vk Mun Opp (NYSE:VMO - Free Report) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,241,991 shares of the investment management company's stock after selling 131,574 shares during the quarter. Sit Investment Associates Inc. owned about 1.84% of Inv Vk Mun Opp worth $11,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in Inv Vk Mun Opp by 413.3% in the 1st quarter. US Bancorp DE now owns 2,700 shares of the investment management company's stock worth $26,000 after acquiring an additional 2,174 shares during the period. CBIZ Investment Advisory Services LLC acquired a new position in shares of Inv Vk Mun Opp in the 1st quarter valued at approximately $29,000. Ackerman Capital Advisors LLC acquired a new position in shares of Inv Vk Mun Opp in the 1st quarter valued at approximately $97,000. Formidable Asset Management LLC acquired a new position in shares of Inv Vk Mun Opp in the 1st quarter valued at approximately $179,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Inv Vk Mun Opp in the 4th quarter valued at approximately $202,000. Hedge funds and other institutional investors own 42.57% of the company's stock.

Inv Vk Mun Opp Stock Performance

Shares of VMO traded down $0.07 during trading on Monday, reaching $9.22. The company's stock had a trading volume of 274,707 shares, compared to its average volume of 247,620. The company has a fifty day moving average of $9.12 and a two-hundred day moving average of $9.34. Inv Vk Mun Opp has a twelve month low of $8.81 and a twelve month high of $10.39.

Inv Vk Mun Opp Announces Dividend

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

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.