Putnam Mun Oppo (NYSE:PMO) Stock Crosses Above 50-Day Moving Average – What’s Next?

Putnam Mun Oppo (NYSE:PMO) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty 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 trading hands.

Putnam Mun Oppo Trading Up 0.5%

The business has a 50 day simple moving average of $10.44 and a two-hundred day simple moving average of $10.49.

Putnam Mun Oppo Dividend Announcement

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

Institutional Trading of Putnam Mun Oppo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elyxium Wealth LLC acquired a new position in shares of Putnam Mun Oppo during the 4th quarter valued at about $44,000. Fifth Third Bancorp boosted its position in shares of 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 worth $97,000 after acquiring 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. Citadel Advisors LLC purchased a new stake in Putnam Mun Oppo in the third quarter valued at approximately $106,000. Finally, MML Investors Services LLC acquired a new position in Putnam Mun Oppo during the fourth quarter worth approximately $107,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Putnam Mun Oppo Company 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.