Putnam Mun Oppo (NYSE:PMO) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

Putnam Mun Oppo (NYSE:PMO) shares 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 changing hands.

Putnam Mun Oppo Price Performance

The firm has a 50-day moving average of $10.56 and a 200-day moving average of $10.53.

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 paid a dividend of $0.033 per share. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 24th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PMO. Elyxium Wealth LLC purchased a new position in shares of Putnam Mun Oppo in the fourth quarter worth about $44,000. Fifth Third Bancorp boosted its position in Putnam Mun Oppo by 269.4% in 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. purchased a new stake in Putnam Mun Oppo in the second quarter valued at approximately $99,000. MML Investors Services LLC acquired a new position in Putnam Mun Oppo in the 4th quarter worth approximately $107,000. Finally, Citadel Advisors LLC acquired a new position in Putnam Mun Oppo in the 3rd quarter worth approximately $106,000. 20.40% of the stock is currently owned by hedge funds and other 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.