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

Putnam Mun Oppo (NYSE:PMO) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-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 traded.

Putnam Mun Oppo Price Performance

The stock has a fifty day moving average price of $10.48 and a 200 day moving average price of $10.51.

Putnam Mun Oppo Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.033 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Trading of Putnam Mun Oppo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new stake in Putnam Mun Oppo in the fourth quarter worth about $44,000. 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 buying an additional 6,840 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Putnam Mun Oppo in the 2nd quarter worth about $99,000. Citadel Advisors LLC purchased a new position in Putnam Mun Oppo in the 3rd quarter worth about $106,000. Finally, MML Investors Services LLC bought a new position in Putnam Mun Oppo during the 4th quarter valued at about $107,000. Hedge funds and other 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.