Invesco Municipal Opportunity Trust (NYSE:VMO)’s Director, Rodney Dammeyer, completed a disposition of 37,721 Common Shares yesterday, for a weighted average sales price of $12.40 per share. The sale was executed indirectly through a trust and after completing the transaction Dammeyer now owns a total of 58,908 company shares.
Furthermore, while this has been the only insider stock trade of the fiscal year at the $836.2 million market cap investment firm, hedge funds have shown confidence in the company’s stock profitability this quarter. Although Howard Guberman sold out his hedge fund (Gruss Asset Management)’s stock, thereby eliminating his shareholder position, Cliff Asness increased Invesco Municipal’s portfolio participation by 2%. Aqr Capital Management now owns 114,726 shares, worth $1.4 million. However, the majority shareholder at the investment company remains William Michaelcheck’s Mariner Investment Group. After increasing the firm’s portfolio activity by 108% this quarter, the hedge fund now owns a total of 159,441 shares, with an estimated value of $1.9 million and accounting for 0.42% of the portfolio.