Putnam Mun Oppo (NYSE:PMO) Shares Cross Above Fifty Day Moving Average - Should You Sell?

Key Points

• Putnam Mun Oppo (NYSE: PMO) moved above its 50-day moving average on Friday, trading as high as $10.48 and last changing hands at $10.4690, up about 0.5% on the session.
• The trust declared a monthly dividend of $0.0393 per share, payable on May 29 to shareholders of record on May 21, implying an annualized yield of about 4.5%.
• Institutional interest remains notable, with hedge funds and other institutional investors owning about 20.4% of the stock and several firms recently adding or initiating positions.

Shares of Putnam Mun Oppo (NYSE:PMO - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.44 and traded as high as $10.48. Putnam Mun Oppo shares last traded at $10.4690, with a volume of 43,664 shares.

Putnam Mun Oppo Trading Up 0.5%

The firm's 50-day simple moving average is $10.44 and its two-hundred day simple moving average is $10.49.

Putnam Mun Oppo Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be paid a $0.0393 dividend. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Trading of Putnam Mun Oppo

A number of institutional investors have recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in shares of Putnam Mun Oppo in the fourth quarter valued at $44,000. Fifth Third Bancorp raised its position in Putnam Mun Oppo by 269.4% during the first quarter. Fifth Third Bancorp now owns 9,379 shares of the financial services provider's stock worth $97,000 after acquiring an additional 6,840 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Putnam Mun Oppo in the second quarter valued at about $99,000. Citadel Advisors LLC purchased a new stake in shares of Putnam Mun Oppo in the third quarter valued at about $106,000. Finally, MML Investors Services LLC acquired a new stake in shares of Putnam Mun Oppo in the fourth quarter valued at approximately $107,000. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

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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