Inv Vk Mun Opp (NYSE:VMO) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 48.5% to 168,481 shares as of September 30, representing about 0.3% of shares outstanding and a days-to-cover ratio of 0.3.
• VMO shares traded down to $8.59, below their 50-day and 200-day moving averages, with a 52-week range of $8.12 to $10.10.
• The fund declared a monthly dividend of $0.0625 per share, equivalent to $0.75 annually and an 8.7% yield; institutional investors own 42.57% of the company.

Inv Vk Mun Opp (NYSE:VMO - Get Free Report) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 168,481 shares, a decline of 48.5% from the September 15th total of 327,125 shares. Based on an average trading volume of 553,558 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the shares of the company are short sold.

Inv Vk Mun Opp Price Performance

Shares of NYSE:VMO traded down $0.14 during trading on Wednesday, hitting $8.59. 223,577 shares of the stock traded hands, compared to its average volume of 262,673. The company has a fifty day moving average price of $9.26 and a two-hundred day moving average price of $9.55. Inv Vk Mun Opp has a 52-week low of $8.12 and a 52-week high of $10.10.

Inv Vk Mun Opp Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors 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. This represents a $0.75 annualized dividend and a yield of 8.7%. The ex-dividend date is Wednesday, October 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. acquired a new position in shares of Inv Vk Mun Opp during the 2nd quarter worth approximately $147,000. NewEdge Advisors LLC grew its stake in Inv Vk Mun Opp by 8.6% in the 2nd quarter. NewEdge Advisors LLC now owns 137,771 shares of the investment management company's stock valued at $1,360,000 after acquiring an additional 10,896 shares during the period. Baird Financial Group Inc. purchased a new stake in Inv Vk Mun Opp in the 2nd quarter worth $244,000. Citadel Advisors LLC purchased a new stake in Inv Vk Mun Opp in the 2nd quarter worth $417,000. Finally, Concurrent Investment Advisors LLC increased its holdings in 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 acquiring an additional 15,318 shares in the last quarter. Hedge funds and other institutional investors own 42.57% of the company's stock.

Inv Vk Mun Opp Company Profile

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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