Putnam Mun Oppo (NYSE:PMO) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Putnam Mun Oppo (NYSE:PMO)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.56 and traded as low as $10.48. Putnam Mun Oppo shares last traded at $10.5050, with a volume of 100,131 shares trading hands.

Putnam Mun Oppo Stock Down 1.3%

The business has a 50 day moving average of $10.56 and a two-hundred day moving average of $10.53.

Putnam Mun Oppo Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.033 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Putnam Mun Oppo

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC grew its stake in Putnam Mun Oppo by 9.0% in the 4th quarter. Jane Street Group LLC now owns 12,965 shares of the financial services provider’s stock valued at $139,000 after buying an additional 1,071 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Putnam Mun Oppo by 13.3% during the fourth quarter. Moors & Cabot Inc. now owns 13,838 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 1,620 shares during the period. Bank of America Corp DE boosted its holdings in shares of Putnam Mun Oppo by 1.2% during the third quarter. Bank of America Corp DE now owns 154,223 shares of the financial services provider’s stock worth $1,593,000 after acquiring an additional 1,874 shares during the period. Osaic Holdings Inc. grew its position in shares of Putnam Mun Oppo by 5.5% in the second quarter. Osaic Holdings Inc. now owns 42,809 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 2,224 shares during the last quarter. Finally, Ackerman Capital Advisors LLC grew its position in shares of Putnam Mun Oppo by 12.4% in the fourth quarter. Ackerman Capital Advisors LLC now owns 22,500 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 2,475 shares during the last quarter. Institutional investors and hedge funds own 20.40% of the company’s stock.

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.