Short Interest in Inv Vk Mun Opp (NYSE:VMO) Expands By 75.5%
by Danessa Lincoln · The Markets DailyInv Vk Mun Opp (NYSE:VMO – Get Free Report) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 143,901 shares, a growth of 75.5% from the February 12th total of 81,989 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 186,452 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 186,452 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the stock are sold short.
Inv Vk Mun Opp Stock Up 0.4%
VMO traded up $0.04 during trading on Friday, hitting $9.79. The company’s stock had a trading volume of 59,347 shares, compared to its average volume of 224,932. Inv Vk Mun Opp has a twelve month low of $8.81 and a twelve month high of $10.10. The business’s fifty day simple moving average is $9.81 and its 200 day simple moving average is $9.65.
Inv Vk Mun Opp Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.0625 per share. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%.
Institutional Investors Weigh In On Inv Vk Mun Opp
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gridiron Partners LLC raised its position in Inv Vk Mun Opp by 1,558.1% during the third quarter. Gridiron Partners LLC now owns 1,502,830 shares of the investment management company’s stock worth $145,000 after acquiring an additional 1,412,192 shares during the period. Ameriprise Financial Inc. grew its position in shares of Inv Vk Mun Opp by 121.2% in the second quarter. Ameriprise Financial Inc. now owns 747,429 shares of the investment management company’s stock valued at $6,853,000 after purchasing an additional 409,601 shares during the period. Rivernorth Capital Management LLC increased its stake in shares of Inv Vk Mun Opp by 9.1% during the fourth quarter. Rivernorth Capital Management LLC now owns 4,042,713 shares of the investment management company’s stock worth $38,689,000 after purchasing an additional 335,856 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Inv Vk Mun Opp by 23.9% during the second quarter. Guggenheim Capital LLC now owns 1,456,238 shares of the investment management company’s stock worth $13,368,000 after purchasing an additional 281,166 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Inv Vk Mun Opp by 42.8% during the 4th quarter. Advisors Asset Management Inc. now owns 637,733 shares of the investment management company’s stock worth $6,103,000 after purchasing an additional 191,246 shares during the last quarter. Hedge funds and other institutional investors own 42.57% of the company’s stock.
About Inv Vk Mun Opp
Inv Vk Mun Opp (NYSE: VMO), known as the Invesco Municipal Opportunity Trust, is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax, along with the potential for capital appreciation. The fund primarily invests in a diversified portfolio of municipal securities issued by U.S. states, cities and local governments. Its investment strategy emphasizes selecting undervalued bonds that offer attractive tax-exempt yields, while maintaining a focus on credit quality and liquidity.
The portfolio manager employs both fundamental credit analysis and relative-value techniques to identify investment opportunities across various sectors of the municipal bond market.