Sit Investment Associates Inc. Sells 131,574 Shares of INV VK MUN OPP (NYSE:VMO)

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. reduced its stake in INV VK MUN OPP (NYSE:VMO - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 approximately 1.84% of INV VK MUN OPP worth $11,786,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of VMO. Raymond James Financial Inc. acquired a new position in shares of INV VK MUN OPP in the fourth quarter valued at $7,598,000. Guggenheim Capital LLC raised its stake in INV VK MUN OPP by 48.2% during the fourth quarter. Guggenheim Capital LLC now owns 945,263 shares of the investment management company's stock worth $9,188,000 after acquiring an additional 307,338 shares in the last quarter. Ameriprise Financial Inc. raised its stake in INV VK MUN OPP by 160.3% during the fourth quarter. Ameriprise Financial Inc. now owns 299,320 shares of the investment management company's stock worth $2,909,000 after acquiring an additional 184,317 shares in the last quarter. Stifel Financial Corp raised its stake in INV VK MUN OPP by 72.3% during the fourth quarter. Stifel Financial Corp now owns 201,656 shares of the investment management company's stock worth $1,960,000 after acquiring an additional 84,593 shares in the last quarter. Finally, LPL Financial LLC raised its stake in INV VK MUN OPP by 17.8% during the first quarter. LPL Financial LLC now owns 532,899 shares of the investment management company's stock worth $5,057,000 after acquiring an additional 80,657 shares in the last quarter. 42.57% of the stock is currently owned by institutional investors and hedge funds.

INV VK MUN OPP Stock Performance

INV VK MUN OPP stock traded down $0.01 during mid-day trading on Friday, hitting $9.27. 169,405 shares of the company were exchanged, compared to its average volume of 211,038. INV VK MUN OPP has a 1-year low of $8.81 and a 1-year high of $10.39. The business has a fifty day moving average of $9.12 and a 200 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 dividend of $0.0625 per share. This represents a c) annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Monday, August 18th.

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.