Putnam Mun Oppo (NYSE:PMO) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Putnam Mun Oppo (NYSE:PMO)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.48 and traded as high as $10.74. Putnam Mun Oppo shares last traded at $10.7190, with a volume of 71,144 shares trading hands.

Putnam Mun Oppo Stock Performance

The business has a 50 day moving average price of $10.48 and a 200 day moving average price of $10.52.

Putnam Mun Oppo Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a $0.033 dividend. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Trading of Putnam Mun Oppo

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Putnam Mun Oppo by 15.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 518,691 shares of the financial services provider’s stock worth $5,550,000 after purchasing an additional 70,735 shares during the last quarter. Worthington Financial Partners LLC purchased a new position in Putnam Mun Oppo in the 4th quarter worth about $1,627,000. Smith Moore & CO. lifted its holdings in Putnam Mun Oppo by 60.6% during the 3rd quarter. Smith Moore & CO. now owns 125,303 shares of the financial services provider’s stock valued at $1,294,000 after buying an additional 47,300 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in Putnam Mun Oppo by 13.3% during the 4th quarter. Moors & Cabot Inc. now owns 13,838 shares of the financial services provider’s stock valued at $148,000 after buying an additional 1,620 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in Putnam Mun Oppo in the 4th quarter valued at about $44,000. 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.