Advisors Asset Management Inc. Sells 44,219 Shares of PUTNAM MUN OPPO $PMO

Key Points

• Advisors Asset Management Inc. has reduced its stake in PUTNAM MUN OPPO by 15.2%, selling 44,219 shares to hold a total of 247,095 shares valued at approximately $2.5 million.
• Other institutional investors, including Royal Bank of Canada and 1607 Capital Partners LLC, have increased their investments in PUTNAM MUN OPPO, indicating a mixed sentiment among institutional shareholders.
• PUTNAM MUN OPPO is set to pay a monthly dividend of $0.0393 per share on October 31, 2023, offering an annualized yield of 4.7% to shareholders.

Advisors Asset Management Inc. reduced its position in PUTNAM MUN OPPO (NYSE:PMO - Free Report) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,095 shares of the financial services provider's stock after selling 44,219 shares during the period. Advisors Asset Management Inc. owned approximately 0.78% of PUTNAM MUN OPPO worth $2,518,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Hennion & Walsh Asset Management Inc. raised its holdings in PUTNAM MUN OPPO by 32.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 457,293 shares of the financial services provider's stock worth $4,660,000 after buying an additional 112,761 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of PUTNAM MUN OPPO in the 4th quarter worth about $318,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of PUTNAM MUN OPPO in the 4th quarter worth about $252,000. 1607 Capital Partners LLC lifted its position in PUTNAM MUN OPPO by 5.5% in the 1st quarter. 1607 Capital Partners LLC now owns 382,761 shares of the financial services provider's stock valued at $3,900,000 after acquiring an additional 20,080 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its stake in PUTNAM MUN OPPO by 172.5% during the 4th quarter. Nomura Holdings Inc. now owns 29,972 shares of the financial services provider's stock valued at $304,000 after purchasing an additional 18,975 shares during the last quarter. Institutional investors and hedge funds own 20.40% of the company's stock.

PUTNAM MUN OPPO Stock Performance

PMO traded down $0.02 during midday trading on Friday, reaching $10.36. 75,377 shares of the company were exchanged, compared to its average volume of 75,516. PUTNAM MUN OPPO has a one year low of $9.34 and a one year high of $10.96. The company's fifty day moving average price is $9.88 and its 200 day moving average price is $9.95.

PUTNAM MUN OPPO Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $0.0393 dividend. The ex-dividend date is Friday, October 17th. This represents a c) annualized dividend and a dividend yield of 4.6%.

PUTNAM MUN OPPO Profile

Putnam Municipal Opportunities Trust is a closed ended fixed income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in fixed income markets of United States. The fund invests in companies operating across healthcare, utilities, transportation, water and sewer, and housing sectors.