Putnam Mun Oppo (NYSE:PMO) Shares Cross Above 50-Day Moving Average – Here’s Why

Putnam Mun Oppo (NYSE:PMO) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.39 and traded as high as $10.55. Putnam Mun Oppo shares last traded at $10.5310, with a volume of 48,489 shares.

Putnam Mun Oppo Trading Up 0.7%

The stock’s 50-day moving average is $10.39 and its 200-day moving average is $10.49.

Putnam Mun Oppo Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.033 per share. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On Putnam Mun Oppo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its holdings in Putnam Mun Oppo by 36.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 420,550 shares of the financial services provider’s stock worth $4,344,000 after acquiring an additional 113,434 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Putnam Mun Oppo by 15.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 518,691 shares of the financial services provider’s stock worth $5,550,000 after acquiring an additional 70,735 shares during the period. Smith Moore & CO. boosted its holdings in Putnam Mun Oppo by 60.6% in the 3rd quarter. Smith Moore & CO. now owns 125,303 shares of the financial services provider’s stock worth $1,294,000 after acquiring an additional 47,300 shares during the period. MML Investors Services LLC purchased a new position in Putnam Mun Oppo in the 4th quarter worth approximately $107,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in Putnam Mun Oppo in the 1st quarter worth approximately $126,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

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.