Inv Vk Mun Opp (NYSE:VMO) Stock Short Interest Report for October

Key Points

• Short interest more than doubled in October, rising 102.7% to 341,495 shares as of October 15; this represented 0.5% of outstanding shares and a days-to-cover ratio of 0.8.
• Portfolio Manager Rebecca Setcavage purchased 3,000 shares at an average price of $8.64. Institutional ownership stood at 42.57%, with several investment firms increasing their positions.
• VMO shares traded at $9.08, near the midpoint of their 52-week range, while the fund maintained a monthly dividend of $0.0625 per share, equivalent to an annualized yield of about 8.3%.

Inv Vk Mun Opp (NYSE:VMO - Get Free Report) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 341,495 shares, a growth of 102.7% from the September 30th total of 168,481 shares. Based on an average daily trading volume, of 412,388 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.5% of the company's shares are sold short.

Insiders Place Their Bets

In related news, Portfolio Manager Rebecca Setcavage bought 3,000 shares of the stock in a transaction on Tuesday, October 13th. The stock was bought at an average price of $8.64 per share, with a total value of $25,920.00. Following the completion of the purchase, the portfolio manager directly owned 3,000 shares in the company, valued at $25,920. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Inv Vk Mun Opp by 89.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,277,578 shares of the investment management company's stock valued at $12,610,000 after buying an additional 604,561 shares in the last quarter. Kestra Advisory Services LLC raised its stake in Inv Vk Mun Opp by 19.4% during the 1st quarter. Kestra Advisory Services LLC now owns 523,813 shares of the investment management company's stock worth $4,981,000 after acquiring an additional 85,183 shares in the last quarter. Van ECK Associates Corp raised its stake in Inv Vk Mun Opp by 1.6% during the 2nd quarter. Van ECK Associates Corp now owns 451,018 shares of the investment management company's stock worth $4,452,000 after acquiring an additional 6,915 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Inv Vk Mun Opp during the 2nd quarter worth $93,000. Finally, Burford Brothers Inc. lifted its position in Inv Vk Mun Opp by 69.9% in the first quarter. Burford Brothers Inc. now owns 48,690 shares of the investment management company's stock valued at $463,000 after acquiring an additional 20,040 shares during the last quarter. 42.57% of the stock is currently owned by hedge funds and other institutional investors.

Inv Vk Mun Opp Stock Performance

Shares of VMO stock traded up $0.08 during trading hours on Friday, hitting $9.08. The company had a trading volume of 310,839 shares, compared to its average volume of 327,502. The company's fifty day moving average is $9.01 and its 200 day moving average is $9.56. Inv Vk Mun Opp has a fifty-two week low of $8.12 and a fifty-two week high of $10.10.

Inv Vk Mun Opp Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th were paid a dividend of $0.0625 per share. This represents a $0.75 dividend on an annualized basis and a yield of 8.3%. This is a positive change from Inv Vk Mun Opp's previous monthly dividend of $0.0625. The ex-dividend date was Wednesday, October 14th.

About Inv Vk Mun Opp

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

The portfolio may include a variety of tax-exempt bonds used to finance public infrastructure and essential services, such as transportation, utilities, education and health care.

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