Rivernorth Capital Management LLC Increases Stock Holdings in Putnam Mun Oppo $PMO

Rivernorth Capital Management LLC increased its holdings in Putnam Mun Oppo (NYSE:PMO) by 60.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 685,823 shares of the financial services provider’s stock after purchasing an additional 258,198 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Putnam Mun Oppo were worth $7,064,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Jane Street Group LLC raised its position in shares of Putnam Mun Oppo by 9.0% during the 4th quarter. Jane Street Group LLC now owns 12,965 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 1,071 shares during the last quarter. Moors & Cabot Inc. grew its stake in Putnam Mun Oppo by 13.3% in the 4th quarter. Moors & Cabot Inc. now owns 13,838 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 1,620 shares during the period. Bank of America Corp DE increased its stake in Putnam Mun Oppo by 1.2% in the third quarter. Bank of America Corp DE now owns 154,223 shares of the financial services provider’s stock valued at $1,593,000 after purchasing an additional 1,874 shares during the last quarter. Osaic Holdings Inc. lifted its position in Putnam Mun Oppo by 5.5% during the second quarter. Osaic Holdings Inc. now owns 42,809 shares of the financial services provider’s stock worth $423,000 after buying an additional 2,224 shares during the period. Finally, Ackerman Capital Advisors LLC boosted its stake in Putnam Mun Oppo by 12.4% in the 4th quarter. Ackerman Capital Advisors LLC now owns 22,500 shares of the financial services provider’s stock worth $241,000 after buying an additional 2,475 shares during the last quarter. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Putnam Mun Oppo Stock Down 0.2%

NYSE PMO opened at $10.29 on Wednesday. Putnam Mun Oppo has a 12 month low of $9.72 and a 12 month high of $10.87. The company 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 disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a $0.033 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 24th.

Putnam Mun Oppo 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.