Putnam Mun Oppo (NYSE:PMO) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

Putnam Mun Oppo (NYSE:PMO) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $10.56 and traded as low as $10.56. Putnam Mun Oppo shares last traded at $10.65, with a volume of 128,975 shares traded.

Putnam Mun Oppo Stock Performance

The business has a 50 day moving average price of $10.56 and a 200 day moving average price of $10.29.

Putnam Mun Oppo Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be paid a $0.0393 dividend. The ex-dividend date is Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 4.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Successful Portfolios LLC grew its stake in Putnam Mun Oppo by 8.0% in the third quarter. Successful Portfolios LLC now owns 13,428 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 1,000 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Putnam Mun Oppo by 1.2% during 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 buying an additional 1,874 shares during the period. Riverbridge Partners LLC raised its holdings in shares of Putnam Mun Oppo by 2.8% in the third quarter. Riverbridge Partners LLC now owns 77,040 shares of the financial services provider’s stock valued at $796,000 after acquiring an additional 2,074 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Putnam Mun Oppo by 5.5% in the second quarter. Osaic Holdings Inc. now owns 42,809 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 2,224 shares during the period. Finally, Intellus Advisors LLC grew its holdings in Putnam Mun Oppo by 1.8% during the 2nd quarter. Intellus Advisors LLC now owns 126,464 shares of the financial services provider’s stock worth $1,251,000 after acquiring an additional 2,267 shares in the last quarter. 20.40% of the stock is currently owned by 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.