Putnam Mun Oppo (NYSE:PMO) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

Putnam Mun Oppo (NYSE:PMO)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.37 and traded as low as $10.20. Putnam Mun Oppo shares last traded at $10.2550, with a volume of 23,255 shares changing hands.

Putnam Mun Oppo Trading Down 0.3%

The firm’s fifty day moving average is $10.37 and its 200 day moving average is $10.48.

Putnam Mun Oppo Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.033 dividend. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, August 24th.

Hedge Funds Weigh In On Putnam Mun Oppo

A number of hedge funds have recently added to or reduced their stakes in PMO. Elyxium Wealth LLC bought a new position in Putnam Mun Oppo in the 4th quarter worth about $44,000. Fifth Third Bancorp boosted its stake in shares of Putnam Mun Oppo by 269.4% during the first quarter. Fifth Third Bancorp now owns 9,379 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 6,840 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Putnam Mun Oppo during the second quarter valued at approximately $99,000. Citadel Advisors LLC bought a new position in shares of Putnam Mun Oppo during the third quarter valued at approximately $106,000. Finally, MML Investors Services LLC bought a new position in shares of Putnam Mun Oppo during the fourth quarter valued at approximately $107,000. 20.40% of the stock is currently owned by institutional investors.

Putnam Mun Oppo Company Profile

Putnam Municipal Opportunities Trust (NYSE: PMO) is a diversified closed-end management investment company that seeks to provide current income exempt from federal income tax with a secondary objective of capital preservation. Established in 1982 and advised by Putnam Investment Management, the Trust invests primarily in municipal securities issued by U.S. states, municipalities and their instrumentalities. Its strategy combines high-quality bonds with selectively chosen sectors in the municipal market to generate tax-advantaged income for shareholders.

The Trust’s portfolio generally comprises general obligation bonds, revenue bonds and insured municipal securities, as well as unrated issues judged by its adviser to possess equivalent credit quality.