Putnam Mun Oppo (NYSE:PMO) Share Price Passes Below Fifty Day Moving Average – Here’s Why

by · The Markets Daily

Putnam Mun Oppo (NYSE:PMO – Get Free Report) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.56 and traded as low as $10.48. Putnam Mun Oppo shares last traded at $10.5050, with a volume of 100,131 shares changing hands.

Putnam Mun Oppo Price Performance

The stock has a 50-day moving average price of $10.56 and a two-hundred day moving average price of $10.53.

Putnam Mun Oppo Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.033 dividend. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On Putnam Mun Oppo

Hedge funds have recently modified their holdings of the stock. Elyxium Wealth LLC purchased a new position in shares of Putnam Mun Oppo in the 4th quarter valued at approximately $44,000. Fifth Third Bancorp boosted its stake in Putnam Mun Oppo by 269.4% in the 1st quarter. Fifth Third Bancorp now owns 9,379 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 6,840 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Putnam Mun Oppo during the 2nd quarter worth approximately $99,000. MML Investors Services LLC purchased a new stake in Putnam Mun Oppo during the 4th quarter worth approximately $107,000. Finally, Citadel Advisors LLC acquired a new position in Putnam Mun Oppo during the 3rd quarter valued at approximately $106,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

About Putnam Mun Oppo

(Get Free Report)

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.

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