Company: VMO
Filing Date: 2025-11-07
Form Type: N-CSRS
Source: 0001193125-25-271184
Chunk: 20

Company: Invesco Municipal Opportunity Trust
Filing Date: 2025-11-07
Form: N-CSRS
Chunk 20
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 the net asset value of the common shares and total return to increased volatility if the value of the Trust decreases while the value of the VMTP Shares remains unchanged. Fluctuations in the dividend rates on the VMTP Shares can also impact the Trust’s yield or its distributions to common shareholders. The Trust is subject to certain restrictions relating to the VMTP Shares, such as maintaining certain asset coverage and leverage ratio requirements. Failure to comply with these restrictions could preclude the Trust from declaring any distributions to common shareholders or purchasing common shares and/or could trigger an increased rate which, if not cured, could cause the mandatory redemption of VMTP Shares at the liquidation preference plus any accumulated but unpaid dividends. The liquidation preference of VMTP Shares, which approximates fair value, is recorded as a liability under the caption Variable rate muni term preferredshares on the Statement of Assets and Liabilities. The fair value of VMTP Shares is expected to be approximately their liquidation preference so long as the credit rating on the VMTP Shares, and therefore the “spread” on the VMTP Shares (determined in accordance with the VMTP Shares’ governing document) remains unchanged. At period-end, the Trust’s Adviser has determined that fair value of VMTP Shares is approximately their liquidation preference. Fair value could vary if market conditions change materially. Unpaid dividends on VMTP Shares are recognized as Accrued interest expense on the Statement of Assets and Liabilities. Dividends paid on VMTP Shares are recognized as a component of Interest, facilities and maintenance feeson the Statement of Operations. NOTE 11–Dividends The Trust declared the following dividends to common shareholders from net investment income subsequent to August 31, 2025:

| Declaration Date  |     | Amount per Share |     | Record Date |                    |     | Payable Date |                    |
| September 2, 2025 |     |          $0.0625 |     |             | September 16, 2025 |     |              | September 30, 2025 |
| October 1, 2025   |     |          $0.0625 |     |             | October 16, 2025   |     |              | October 31, 2025   |

NOTE 12–Subsequent Event On July 28, 2025, the Board of Trustees of the Trust approved the following changes to the VMTP Shares. On September 4, 2025, the Trust redeemed 624 Series 201