Putnam Mun Oppo (NYSE:PMO) Declares $0.04 Monthly Dividend

Putnam Mun Oppo (NYSE:PMO) declared a monthly dividend on Monday, February 23rd. Shareholders of record on Thursday, April 23rd will be given a dividend of 0.0393 per share by the financial services provider on Thursday, April 30th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, April 23rd.

Putnam Mun Oppo Price Performance

Shares of PMO stock traded up $0.01 during mid-day trading on Monday, hitting $10.70. The company had a trading volume of 51,443 shares, compared to its average volume of 64,084. The stock’s 50 day moving average price is $10.60 and its 200-day moving average price is $10.37. Putnam Mun Oppo has a 52-week low of $9.34 and a 52-week high of $10.79.

Hedge Funds Weigh In On Putnam Mun Oppo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Putnam Mun Oppo by 53.1% during the fourth quarter. Invesco Ltd. now owns 159,253 shares of the financial services provider’s stock valued at $1,704,000 after purchasing an additional 55,226 shares during the period. Rivernorth Capital Management LLC lifted its position in Putnam Mun Oppo by 72.8% in the fourth quarter. Rivernorth Capital Management LLC now owns 427,625 shares of the financial services provider’s stock worth $4,576,000 after buying an additional 180,105 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Putnam Mun Oppo by 9.2% during the fourth quarter. Guggenheim Capital LLC now owns 663,914 shares of the financial services provider’s stock worth $7,104,000 after buying an additional 56,158 shares during the period. &PARTNERS bought a new position in Putnam Mun Oppo during the fourth quarter valued at $335,000. Finally, Royal Bank of Canada raised its stake in shares of Putnam Mun Oppo by 28.2% in the fourth quarter. Royal Bank of Canada now owns 38,570 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 8,494 shares during the period. 20.40% of the stock is owned by institutional investors.

About Putnam Mun Oppo

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.