Rivernorth Capital Management LLC Trims Holdings in Inv Vk Mun Opp $VMO

Rivernorth Capital Management LLC lowered its stake in shares of Inv Vk Mun Opp (NYSE:VMO) by 37.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,703,324 shares of the investment management company’s stock after selling 1,028,952 shares during the period. Inv Vk Mun Opp accounts for 0.8% of Rivernorth Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Rivernorth Capital Management LLC owned 2.53% of Inv Vk Mun Opp worth $16,812,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in VMO. Hennion & Walsh Asset Management Inc. raised its holdings in shares of 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 worth $12,610,000 after acquiring an additional 604,561 shares during the period. Ameriprise Financial Inc. grew its holdings 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. Advisors Asset Management Inc. grew its holdings in shares of Inv Vk Mun Opp by 42.8% in the fourth quarter. Advisors Asset Management Inc. now owns 637,733 shares of the investment management company’s stock valued at $6,103,000 after purchasing an additional 191,246 shares during the period. Wells Fargo & Company MN increased its position in Inv Vk Mun Opp by 30.7% during the fourth quarter. Wells Fargo & Company MN now owns 591,204 shares of the investment management company’s stock worth $5,658,000 after purchasing an additional 138,904 shares during the last quarter. Finally, LPL Financial LLC increased its position in Inv Vk Mun Opp by 11.6% during the fourth quarter. LPL Financial LLC now owns 1,075,653 shares of the investment management company’s stock worth $10,294,000 after purchasing an additional 112,110 shares during the last quarter. 42.57% of the stock is currently owned by hedge funds and other institutional investors.

Inv Vk Mun Opp Trading Down 0.1%

NYSE:VMO opened at $9.73 on Monday. The company’s 50-day moving average is $9.78 and its two-hundred day moving average is $9.75. Inv Vk Mun Opp has a 1-year low of $9.15 and a 1-year high of $10.10.

Inv Vk Mun Opp Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.0625 dividend. The ex-dividend date is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 7.7%.

Inv Vk Mun Opp Company Profile

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.