Inv Vk Mun Opp (NYSE:VMO) Stock Price Passes Below 200 Day Moving Average - What's Next?

Key Points

• VMO shares fell below their 200-day moving average, trading as low as $9.24 compared with the average of $9.69, before last changing hands at $9.2640 on volume of 371,863 shares.
• The fund declared a $0.0625 monthly dividend, payable September 30 to shareholders of record September 14, implying an annualized yield of approximately 8.1%.
• Institutional investors own 42.57% of VMO, with several hedge funds recently increasing their positions, including Hennion & Walsh Asset Management, which nearly doubled its holdings.

Shares of Inv Vk Mun Opp (NYSE:VMO - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.69 and traded as low as $9.24. Inv Vk Mun Opp shares last traded at $9.2640, with a volume of 371,863 shares trading hands.

Inv Vk Mun Opp Trading Up 0.4%

The business's 50-day moving average is $9.65 and its two-hundred day moving average is $9.69.

Inv Vk Mun Opp Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be issued a $0.0625 dividend. This represents a c) dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Monday, September 14th.

Institutional Trading of Inv Vk Mun Opp

A number of hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its holdings in Inv Vk Mun Opp by 89.8% during 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 purchasing an additional 604,561 shares in the last quarter. Worthington Financial Partners LLC purchased a new position in Inv Vk Mun Opp in the 4th quarter valued at about $826,000. Kestra Advisory Services LLC grew its stake in shares of Inv Vk Mun Opp by 19.4% during the first quarter. Kestra Advisory Services LLC now owns 523,813 shares of the investment management company's stock valued at $4,981,000 after acquiring an additional 85,183 shares in the last quarter. Burford Brothers Inc. increased its position in shares of Inv Vk Mun Opp by 69.9% during the first quarter. Burford Brothers Inc. now owns 48,690 shares of the investment management company's stock worth $463,000 after acquiring an additional 20,040 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new position in shares of Inv Vk Mun Opp in the second quarter worth about $127,000. 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 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, municipalities and other public-sector entities in the United States.

The portfolio may include tax-exempt bonds and other debt obligations used to finance public infrastructure and services, such as schools, transportation systems, utilities and healthcare facilities.

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