Putnam Mun Oppo $PMO Shares Bought by Rivernorth Capital Management LLC

Key Points

• Rivernorth Capital Management increased its PMO stake by 60.4% in the first quarter, acquiring 258,198 additional shares for a total of 685,823 shares valued at approximately $7.06 million.
• Other institutional investors also raised their positions, and hedge funds and other institutions collectively owned 20.4% of Putnam Municipal Opportunities Trust.
• PMO recently traded at $10.29, near the lower end of its 12-month range, while the trust announced a monthly dividend of $0.033 per share, representing an annualized yield of about 3.8%.

Rivernorth Capital Management LLC lifted its stake in shares of Putnam Mun Oppo (NYSE:PMO - Free Report) by 60.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 685,823 shares of the financial services provider's stock after buying an additional 258,198 shares during the quarter. Rivernorth Capital Management LLC owned about 2.50% of Putnam Mun Oppo worth $7,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Guggenheim Capital LLC boosted its stake in Putnam Mun Oppo by 9.2% in the fourth quarter. Guggenheim Capital LLC now owns 663,914 shares of the financial services provider's stock valued at $7,104,000 after acquiring an additional 56,158 shares in the last quarter. Advisors Asset Management Inc. increased its position in Putnam Mun Oppo by 42.3% during the fourth quarter. Advisors Asset Management Inc. now owns 598,344 shares of the financial services provider's stock worth $6,402,000 after buying an additional 177,794 shares during the period. Pathstone Holdings LLC lifted its stake in Putnam Mun Oppo by 6.4% in the third quarter. Pathstone Holdings LLC now owns 563,544 shares of the financial services provider's stock valued at $5,821,000 after buying an additional 33,826 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted 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 valued at $5,550,000 after acquiring an additional 70,735 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Putnam Mun Oppo by 33.0% in the 4th quarter. Wells Fargo & Company MN now owns 372,017 shares of the financial services provider's stock valued at $3,981,000 after acquiring an additional 92,359 shares during the period. 20.40% of the stock is owned by hedge funds and other institutional investors.

Putnam Mun Oppo Trading Down 0.2%

PMO stock opened at $10.29 on Wednesday. The company has a fifty day moving average price of $10.56 and a 200 day moving average price of $10.53. Putnam Mun Oppo has a 12 month low of $9.72 and a 12 month high of $10.87.

Putnam Mun Oppo Announces Dividend

The business 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 dividend of $0.033 per share. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 24th.

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.

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