Invmun Incom (NYSE:OIA) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 716.7% to 387,993 shares as of September 30, equal to about 0.9% of OIA’s outstanding shares and 1.3 days of average trading volume.
• Invmun Incom opened at $5.75, within its 52-week range of $5.09 to $6.40, while its 50-day and 200-day moving averages stood at $5.87 and $6.03, respectively.
• The trust announced a monthly dividend of $0.0291 per share, or approximately $0.35 annualized, representing a 6.1% yield; institutional investors own 12.57% of the stock.

Invmun Incom (NYSE:OIA - Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 387,993 shares, a growth of 716.7% from the September 15th total of 47,509 shares. Based on an average daily trading volume, of 305,940 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.9% of the shares of the stock are short sold.

Invmun Incom Price Performance

NYSE:OIA opened at $5.75 on Friday. Invmun Incom has a twelve month low of $5.09 and a twelve month high of $6.40. The company's 50-day moving average price is $5.87 and its 200-day moving average price is $6.03.

Invmun Incom Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be paid a $0.0291 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, October 14th.

Institutional Investors Weigh In On Invmun Incom

A number of large investors have recently made changes to their positions in OIA. Van ECK Associates Corp boosted its stake in Invmun Incom by 3.7% during the second quarter. Van ECK Associates Corp now owns 284,491 shares of the investment management company's stock worth $1,767,000 after buying an additional 10,076 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Invmun Incom by 11.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 223,597 shares of the investment management company's stock worth $1,373,000 after acquiring an additional 22,443 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Invmun Incom by 85.2% during the 2nd quarter. NewEdge Advisors LLC now owns 99,451 shares of the investment management company's stock worth $618,000 after acquiring an additional 45,739 shares during the period. Cetera Investment Advisers raised its holdings in shares of Invmun Incom by 8.4% during the 1st quarter. Cetera Investment Advisers now owns 96,513 shares of the investment management company's stock worth $593,000 after acquiring an additional 7,504 shares during the period. Finally, Rivernorth Capital Management LLC purchased a new position in shares of Invmun Incom during the 2nd quarter worth $387,000. 12.57% of the stock is currently owned by hedge funds and other institutional investors.

About Invmun Incom

Invesco Municipal Income Opportunities Trust NYSE: OIA is a closed-end management investment company advised by an affiliate of Invesco Ltd. The trust seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities.

Its portfolio may include bonds issued by states, municipalities, public authorities and other governmental entities across the United States. These securities typically help finance public projects and services such as education, transportation, utilities, health care and other essential infrastructure.

The trust is managed by Invesco, a global investment-management firm, and its investment strategy focuses on identifying municipal securities that may offer attractive tax-exempt income while managing credit, interest-rate and other portfolio risks.

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