Putnam Mun Oppo (NYSE:PMO) Stock Price Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

• Putnam Municipal Opportunities Trust shares fell below their 50-day moving average, trading as low as $9.72 versus a 50-day average of $10.29. The stock was last quoted at $9.7660 on volume of 81,305 shares.
• The trust declared a monthly dividend of $0.052 per share, payable November 30 to shareholders of record November 20. The dividend implies a 6.4% annualized yield.
• Institutional investors and hedge funds own 20.4% of PMO, with several investors increasing their positions recently. The closed-end fund primarily invests in U.S. municipal securities designed to generate federally tax-exempt income.

Putnam Mun Oppo (NYSE:PMO - Get Free Report)'s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.29 and traded as low as $9.72. Putnam Mun Oppo shares last traded at $9.7660, with a volume of 81,305 shares trading hands.

Putnam Mun Oppo Trading Up 1.0%

The business's fifty day moving average price is $10.29 and its 200 day moving average price is $10.41.

Putnam Mun Oppo Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.052 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) annualized dividend and a dividend yield of 6.4%.

Hedge Funds Weigh In On Putnam Mun Oppo

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Robinson Capital Management LLC raised its position in shares of Putnam Mun Oppo by 11.6% in the 2nd quarter. Robinson Capital Management LLC now owns 645,263 shares of the financial services provider's stock valued at $6,801,000 after purchasing an additional 66,992 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Putnam Mun Oppo during the second quarter worth approximately $76,000. Oakmont Investment Advisors Inc. bought a new stake in shares of Putnam Mun Oppo in the second quarter worth $105,000. Noble Wealth Management PBC increased its stake in shares of Putnam Mun Oppo by 92.9% in the second quarter. Noble Wealth Management PBC now owns 82,471 shares of the financial services provider's stock worth $869,000 after buying an additional 39,721 shares during the last quarter. Finally, Rivernorth Capital Management LLC raised its holdings in Putnam Mun Oppo by 60.4% in the first quarter. Rivernorth Capital Management LLC now owns 685,823 shares of the financial services provider's stock valued at $7,064,000 after acquiring an additional 258,198 shares in the last quarter. Institutional investors and hedge funds own 20.40% of the company's stock.

Putnam Mun Oppo Company Profile

Putnam Municipal Opportunities Trust NYSE: PMO is a closed-end management investment company designed to provide current income that is generally exempt from federal income tax. The trust invests primarily in municipal securities issued by states, municipalities, and other public entities in the United States.

Its portfolio may include general obligation and revenue bonds, as well as other tax-exempt debt instruments used to finance public infrastructure and services. The trust's investments can span municipal issuers across various U.S.

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