Putnam Mun Oppo (NYSE:PMO) Shares Cross Below 50-Day Moving Average – What’s Next?

Putnam Mun Oppo (NYSE:PMO) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $9.83 and traded as low as $9.79. Putnam Mun Oppo shares last traded at $9.84, with a volume of 85,520 shares changing hands.

Putnam Mun Oppo Price Performance

The stock’s fifty day moving average is $9.83 and its 200-day moving average is $10.00.

Putnam Mun Oppo Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be given a $0.0393 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a yield of 476.0%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PMO. CX Institutional acquired a new position in Putnam Mun Oppo in the second quarter valued at about $29,000. ST Germain D J Co. Inc. acquired a new position in Putnam Mun Oppo in the second quarter valued at about $30,000. Duncker Streett & Co. Inc. acquired a new position in Putnam Mun Oppo in the second quarter valued at about $48,000. Wolverine Asset Management LLC acquired a new position in Putnam Mun Oppo in the first quarter valued at about $50,000. Finally, Elequin Capital LP acquired a new position in Putnam Mun Oppo in the first quarter valued at about $72,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

About Putnam Mun Oppo

Putnam Municipal Opportunities Trust is a closed ended fixed income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in fixed income markets of United States. The fund invests in companies operating across healthcare, utilities, transportation, water and sewer, and housing sectors.