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

Putnam Mun Oppo (NYSE:PMO) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.62 and traded as low as $10.14. Putnam Mun Oppo shares last traded at $10.16, with a volume of 73,862 shares.

Putnam Mun Oppo Trading Down 1.6%

The company’s 50-day simple moving average is $10.62 and its two-hundred day simple moving average is $10.48.

Putnam Mun Oppo Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.0393 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Thursday, May 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PMO. Elyxium Wealth LLC bought a new stake in shares of Putnam Mun Oppo in the 4th quarter worth approximately $44,000. Nomura Holdings Inc. bought a new position in shares of Putnam Mun Oppo during the second quarter valued at approximately $99,000. Wellspring Financial Advisors LLC bought a new position in shares of Putnam Mun Oppo during the second quarter valued at approximately $104,000. Citadel Advisors LLC purchased a new stake in Putnam Mun Oppo in the third quarter worth $106,000. Finally, MML Investors Services LLC purchased a new stake in Putnam Mun Oppo in the fourth quarter worth $107,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

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.