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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Invesco Municipal Opportunity Trust | NYSE:VMO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.06 | -0.59% | 10.16 | 10.23 | 10.16 | 10.20 | 50,123 | 18:23:33 |
The Van Kampen Municipal Closed-End Funds (“Funds”) listed below hereby announce the dates for the partial redemptions of their respective preferred shares. The announced partial redemptions total approximately $99 million of the total outstanding preferred shares issued by the Funds.
This is the third redemption announcement since the August 18, 2008 press release in which Van Kampen provided information regarding additional refinancing of a portion of the Funds’ preferred shares with the use of tender option bonds (TOBs). In light of the continued failed auctions, each Fund’s Board of Trustees approved the use of TOBs as a replacement source of leverage. In the previous announcements dated May 1, 2009 and June 9, 2009, Van Kampen announced the redemption of approximately $120 million and $24 million, respectively, of the total outstanding preferred shares issued by the Funds.
The amount of preferred shares being redeemed at this time equates to approximately 5 percent of the original shares issued for each Fund. This partial redemption affects seven of the Firms’ closed-end municipal funds.
With respect to this partial redemption, The Depository Trust Company (DTC), the securities’ holder of record, will determine how the partial series redemptions will be allocated among each participant broker-dealer account. Each participant broker-dealer, as nominee for underlying beneficial owners (street name shareholders), in turn will determine how redeemed shares are to be allocated among its underlying beneficial owners. The procedures used by various broker-dealers to allocate redeemed shares among beneficial owners may differ from each other as well as from the procedures used by DTC.
Redemption Schedule
Van Kampen Advantage Municipal Income Trust II (NYSE: VKI)
Series CUSIP Number# of Shares
Redeemed
Amount
Redeemed
Redemption Date A 921-12K-206 80 $ 2,000,000 October 23, 2009 B 921-12K-305 80 $ 2,000,000 October 19, 2009 C 921-12K-404 80 $ 2,000,000 October 23, 2009 D 921-12K-503 80 $ 2,000,000 October 22, 2009 E 921-12K-602 70 $ 1,750,000 October 19, 2009 F 921-12K-701 100 $ 2,500,000 October 21, 2009 G 921-12K-800 100 $ 2,500,000 November 16, 2009 H 921-12K-883 100 $ 2,500,000 November 9, 2009 I 921-12K-875 100 $ 2,500,000 November 23, 2009 J 921-12K-867 50 $ 1,250,000 October 20, 2009Van Kampen Municipal Opportunity Trust (NYSE:VMO)
Series CUSIP Number# of Shares
Redeemed
Amount
Redeemed
Redemption Date A 920-935-202 150 $ 3,750,000 November 6, 2009 B 920-935-301 150 $ 3,750,000 November 4, 2009 C 920-935-400 100 $ 2,500,000 November 18, 2009 D 920-935-509 100 $ 2,500,000 November 4, 2009 E 920-935-608 100 $ 2,500,000 November 13, 2009 F 920-935-707 80 $ 2,000,000 November 18, 2009Van Kampen Municipal Trust (NYSE:VKQ)
Series CUSIP Number# of Shares
Redeemed
Amount
Redeemed
Redemption Date A 920-919-206 150 $ 3,750,000 October 23, 2009 B 920-919-305 150 $ 3,750,000 November 23, 2009 C 920-919-404 150 $ 3,750,000 October 20, 2009 D 920-919-503 150 $ 3,750,000 November 18, 2009 E 920-919-602 50 $ 1,250,000 November 16, 2009Van Kampen Select Sector Municipal Trust (NYSE:VKL)
Series CUSIP Number# of Shares
Redeemed
Amount
Redeemed
Redemption Date A 921-12M-202 34 $ 850,000 October 16, 2009 B 921-12M-301 34 $ 850,000 November 27, 2009 C 921-12M-400 100 $ 2,500,000 November 10, 2009 D 921-12M-509 90 $ 2,250,000 November 12, 2009Van Kampen Trust for Insured Municipals (NYSE:VIM)
Series CUSIP Number# of Shares
Redeemed
Amount
Redeemed
Redemption Date A 920-928-207 90 $ 2,250,000 November 24, 2009 B 920-928-306 90 $ 2,250,000 November 23, 2009Van Kampen Trust for Investment Grade Municipals (NYSE:VGM)
Series CUSIP Number# of Shares
Redeemed
Amount
Redeemed
Redemption Date A 920-929-205 150 $ 3,750,000 November 19, 2009 B 920-929-304 150 $ 3,750,000 November 25, 2009 C 920-929-403 150 $ 3,750,000 November 3, 2009 D 920-929-502 80 $ 2,000,000 November 6, 2009 E 920-929-601 110 $ 2,750,000 November 19, 2009 F 920-929-700 110 $ 2,750,000 November 25, 2009 G 920-929-809 110 $ 2,750,000 November 5, 2009 H 920-929-882 112 $ 2,800,000 November 3, 2009 I 920-929-874 100 $ 2,500,000 November 23, 2009Van Kampen Trust for Investment Grade New York Municipals (NYSE:VTN)
Series CUSIP Number# of Shares
Redeemed
Amount
Redeemed
Redemption Date A 920-931-201 120 $ 3,000,000 November 17, 2009 B 920-931-300 90 $ 2,250,000 November 20, 2009 C 920-931-409 80 $ 2,000,000 October 20, 2009Van Kampen Asset Management, the Funds' investment adviser, is a wholly owned subsidiary of Van Kampen Investments Inc. (“Van Kampen”). Van Kampen is one of the nation’s largest investment management companies, with approximately $86 billion in assets under management or supervision, as of June 30, 2009. With roots in money management dating back to 1927, Van Kampen has helped nearly four generations of investors achieve their financial goals. For more information, visit Van Kampen’s website at www.vankampen.com.
# # #
Copyright ©2009 Van Kampen Funds Inc. All Rights Reserved. Member FINRA/SIPC.
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