Insider Buying: Inv Vk Mun Opp (NYSE:VMO) Portfolio Manager Purchases 3,000 Shares of Company Stock

Key Points

• Portfolio manager Rebecca Setcavage purchased 3,000 VMO shares at an average price of $8.64, investing $25,920 and establishing a 3,000-share position.
• VMO shares traded at $8.70, near the lower end of their 52-week range of $8.12 to $10.10, while institutional investors own 42.57% of the fund.
• The fund pays a monthly dividend of $0.0625 per share, equivalent to $0.75 annually and an approximately 8.6% yield.

Inv Vk Mun Opp (NYSE:VMO - Get Free Report) Portfolio Manager Rebecca Setcavage purchased 3,000 shares of the company's stock in a transaction that occurred on Tuesday, October 13th. The shares were purchased at an average cost of $8.64 per share, with a total value of $25,920.00. Following the completion of the purchase, the portfolio manager owned 3,000 shares in the company, valued at $25,920. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Inv Vk Mun Opp Price Performance

Shares of NYSE VMO traded up $0.13 during midday trading on Thursday, reaching $8.70. 94,717 shares of the company's stock traded hands, compared to its average volume of 262,581. The stock's 50 day simple moving average is $9.23 and its 200-day simple moving average is $9.54. Inv Vk Mun Opp has a one year low of $8.12 and a one year high of $10.10.

Inv Vk Mun Opp Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be given a dividend of $0.0625 per share. This is a boost from Inv Vk Mun Opp's previous monthly dividend of $0.0625. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.75 annualized dividend and a yield of 8.6%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. purchased a new position in shares of Inv Vk Mun Opp in the 2nd quarter worth approximately $147,000. NewEdge Advisors LLC increased its position in shares of Inv Vk Mun Opp by 8.6% during the second quarter. NewEdge Advisors LLC now owns 137,771 shares of the investment management company's stock worth $1,360,000 after purchasing an additional 10,896 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Inv Vk Mun Opp during the 2nd quarter valued at $244,000. Citadel Advisors LLC acquired a new stake in shares of Inv Vk Mun Opp in the 2nd quarter worth $417,000. Finally, Concurrent Investment Advisors LLC boosted its position in shares of Inv Vk Mun Opp by 40.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 53,559 shares of the investment management company's stock worth $529,000 after purchasing an additional 15,318 shares in the last quarter. 42.57% of the stock is owned by institutional investors.

About Inv Vk Mun Opp

Invesco Municipal Opportunity Trust NYSE: VMO is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax. The fund primarily invests in a portfolio of municipal securities issued by states, cities, counties, public authorities and other governmental entities in the United States.

The trust may invest in a range of tax-exempt securities, including general obligation and revenue bonds. Revenue bonds are typically backed by income from projects or services such as transportation systems, utilities, hospitals, housing programs and educational facilities.

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