Putnam Mun Oppo (NYSE:PMO) Stock Crosses Above 50-Day Moving Average – What’s Next?

Putnam Mun Oppo (NYSE:PMO)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.43 and traded as high as $10.67. Putnam Mun Oppo shares last traded at $10.67, with a volume of 26,378 shares changing hands.

Putnam Mun Oppo Trading Up 1.0%

The business’s fifty day moving average price is $10.43 and its 200-day moving average price is $10.50.

Putnam Mun Oppo Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.033 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 3.7%.

Institutional Trading of Putnam Mun Oppo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMO. Elyxium Wealth LLC purchased a new stake in shares of Putnam Mun Oppo in the fourth quarter worth approximately $44,000. Fifth Third Bancorp boosted its position 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 buying an additional 6,840 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Putnam Mun Oppo during the second quarter worth $99,000. Citadel Advisors LLC bought a new stake in Putnam Mun Oppo during the third quarter worth $106,000. Finally, MML Investors Services LLC bought a new stake in Putnam Mun Oppo during the fourth quarter worth $107,000. 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.