Putnam Mun Oppo (NYSE:PMO) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Putnam Mun Oppo (NYSE:PMO) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.48 and traded as high as $10.74. Putnam Mun Oppo shares last traded at $10.7190, with a volume of 71,144 shares changing hands.

Putnam Mun Oppo Trading Up 1.7%

The stock’s 50-day moving average price is $10.48 and its 200-day moving average price is $10.51.

Putnam Mun Oppo Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 3.7%.

Institutional Investors Weigh In On Putnam Mun Oppo

Several hedge funds and other institutional investors have recently modified their holdings of the company. Noble Wealth Management PBC lifted its holdings in shares of Putnam Mun Oppo by 92.9% in the second quarter. Noble Wealth Management PBC now owns 82,471 shares of the financial services provider’s stock valued at $869,000 after purchasing an additional 39,721 shares in the last quarter. Rivernorth Capital Management LLC lifted its position in shares of Putnam Mun Oppo by 60.4% during the 1st quarter. Rivernorth Capital Management LLC now owns 685,823 shares of the financial services provider’s stock valued at $7,064,000 after buying an additional 258,198 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Putnam Mun Oppo during the 1st quarter worth $500,000. Fifth Third Bancorp increased its holdings in Putnam Mun Oppo by 269.4% in the 1st quarter. Fifth Third Bancorp now owns 9,379 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 6,840 shares during the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Putnam Mun Oppo in the 1st quarter worth about $126,000. Institutional investors 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.