Inv Vk Mun Opp (NYSE:VMO) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

Inv Vk Mun Opp (NYSE:VMO) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $9.01 and traded as high as $9.10. Inv Vk Mun Opp shares last traded at $9.08, with a volume of 310,839 shares changing hands.

Inv Vk Mun Opp Trading Up 0.9%

The stock has a fifty day moving average of $9.01 and a 200 day moving average of $9.56.

Inv Vk Mun Opp Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $0.75 annualized dividend and a dividend yield of 8.3%. This is a boost from Inv Vk Mun Opp’s previous monthly dividend of $0.0625.

Insider Activity

In other Inv Vk Mun Opp news, Portfolio Manager Rebecca Setcavage bought 3,000 shares of the stock in a transaction dated Tuesday, October 13th. The shares were bought at an average cost of $8.64 per share, for a total transaction of $25,920.00. Following the purchase, the portfolio manager directly owned 3,000 shares of the company’s stock, valued at approximately $25,920. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inv Vk Mun Opp

Several institutional investors have 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% in 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 purchasing an additional 604,561 shares during the period. Kestra Advisory Services LLC lifted its stake in Inv Vk Mun Opp by 19.4% in 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 purchasing an additional 85,183 shares during the last quarter. Citadel Advisors LLC purchased a new position in Inv Vk Mun Opp in the second quarter valued at approximately $417,000. Royal Bank of Canada grew its holdings in Inv Vk Mun Opp by 25.6% during the first quarter. Royal Bank of Canada now owns 169,567 shares of the investment management company’s stock valued at $1,612,000 after purchasing an additional 34,600 shares during the period. Finally, Planning Alternatives Ltd. ADV grew its holdings in Inv Vk Mun Opp by 41.1% during the first quarter. Planning Alternatives Ltd. ADV now owns 103,000 shares of the investment management company’s stock valued at $980,000 after purchasing an additional 30,000 shares during the period. 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 management investment company. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in a portfolio of municipal securities issued by states, municipalities and other public authorities in the United States.

The portfolio may include a variety of tax-exempt bonds used to finance public infrastructure and essential services, such as transportation, utilities, education and health care.