Inv Vk Mun Opp (NYSE:VMO) Sets New 12-Month Low – Here’s Why

Inv Vk Mun Opp (NYSE:VMO)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $8.12 and last traded at $8.2990, with a volume of 817089 shares. The stock had previously closed at $8.37.

Inv Vk Mun Opp Stock Up 0.7%

The company has a fifty day moving average of $9.43 and a 200 day moving average of $9.61.

Inv Vk Mun Opp Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 14th were given a $0.0625 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.9%.

Institutional Investors Weigh In On Inv Vk Mun Opp

A number of institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. acquired a new stake in shares of Inv Vk Mun Opp during the second quarter worth $147,000. NewEdge Advisors LLC lifted its holdings in Inv Vk Mun Opp by 8.6% in the second quarter. NewEdge Advisors LLC now owns 137,771 shares of the investment management company’s stock valued at $1,360,000 after buying an additional 10,896 shares during the period. Baird Financial Group Inc. acquired a new position in Inv Vk Mun Opp in the second quarter valued at $244,000. Citadel Advisors LLC bought a new stake in Inv Vk Mun Opp during the second quarter valued at $417,000. Finally, Concurrent Investment Advisors LLC boosted its position in Inv Vk Mun Opp by 40.1% during the second quarter. Concurrent Investment Advisors LLC now owns 53,559 shares of the investment management company’s stock valued at $529,000 after acquiring an additional 15,318 shares during 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 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.