Putnam Mun Oppo Announces Monthly Dividend of $0.03 (NYSE:PMO)

Putnam Mun Oppo (NYSE:PMO) declared a monthly dividend on Thursday, May 14th. Investors of record on Friday, July 24th will be paid a dividend of 0.033 per share by the financial services provider on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, July 24th.

Putnam Mun Oppo Trading Up 0.9%

Shares of Putnam Mun Oppo stock opened at $10.48 on Friday. The business’s fifty day moving average price is $10.41 and its 200 day moving average price is $10.49. Putnam Mun Oppo has a twelve month low of $9.70 and a twelve month high of $10.87.

Hedge Funds Weigh In On Putnam Mun Oppo

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of Putnam Mun Oppo during the 1st quarter worth about $500,000. Fifth Third Bancorp raised its holdings 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 period. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in Putnam Mun Oppo during the first quarter valued at approximately $126,000. Worthington Financial Partners LLC acquired a new position in Putnam Mun Oppo during the fourth quarter valued at approximately $1,627,000. Finally, Invesco Ltd. grew its stake in Putnam Mun Oppo by 53.1% during the fourth quarter. Invesco Ltd. now owns 159,253 shares of the financial services provider’s stock worth $1,704,000 after buying an additional 55,226 shares during the period. 20.40% of the stock is owned by institutional investors and hedge funds.

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.