Putnam Mun Oppo (NYSE:PMO) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Putnam Mun Oppo (NYSE:PMO)’s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.44 and traded as high as $10.48. Putnam Mun Oppo shares last traded at $10.4690, with a volume of 43,664 shares traded.

Putnam Mun Oppo Stock Up 0.5%

The firm’s 50 day moving average is $10.44 and its two-hundred day moving average is $10.49.

Putnam Mun Oppo Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be paid a dividend of $0.0393 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 4.5%.

Institutional Trading of Putnam Mun Oppo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in Putnam Mun Oppo during the first quarter worth about $500,000. Fifth Third Bancorp lifted its holdings in shares of Putnam Mun Oppo by 269.4% during 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 period. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in shares of Putnam Mun Oppo in the first quarter worth approximately $126,000. Worthington Financial Partners LLC purchased a new stake in Putnam Mun Oppo in the fourth quarter valued at approximately $1,627,000. Finally, Invesco Ltd. increased its position 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 purchasing an additional 55,226 shares during the last quarter. 20.40% of the stock is 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.