Putnam Mun Oppo (NYSE:PMO) Shares Cross Above Fifty Day Moving Average - What's Next?

Key Points

• PMO shares rose 1.5% and crossed above their 50-day moving average, trading as high as $10.63 before closing near $10.56. The stock’s 200-day moving average was $10.50.
• Putnam Municipal Opportunities Trust announced a monthly dividend of $0.052 per share, implying an annualized yield of approximately 5.9%; shareholders of record on November 20 were scheduled to receive payment on November 30.
• Institutional ownership stands at 20.4%, with several investment firms—including RiverNorth Capital Management, Advisors Asset Management and Wells Fargo—recently increasing their PMO positions.

Putnam Mun Oppo (NYSE:PMO - Get Free Report)'s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.54 and traded as high as $10.63. Putnam Mun Oppo shares last traded at $10.56, with a volume of 85,576 shares.

Putnam Mun Oppo Stock Up 1.5%

The firm has a fifty day simple moving average of $10.54 and a 200-day simple moving average of $10.50.

Putnam Mun Oppo Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a $0.052 dividend. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a yield of 5.9%.

Institutional Investors Weigh In On Putnam Mun Oppo

Several institutional investors and hedge funds have recently added to or reduced their stakes in PMO. Rivernorth Capital Management LLC lifted its stake in Putnam Mun Oppo by 60.4% in the 1st quarter. Rivernorth Capital Management LLC now owns 685,823 shares of the financial services provider's stock valued at $7,064,000 after purchasing an additional 258,198 shares during the last quarter. Guggenheim Capital LLC raised 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 buying an additional 56,158 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Putnam Mun Oppo by 42.3% in the fourth quarter. Advisors Asset Management Inc. now owns 598,344 shares of the financial services provider's stock valued at $6,402,000 after buying an additional 177,794 shares during the last quarter. Pathstone Holdings LLC boosted its stake in shares of Putnam Mun Oppo by 6.4% during the 3rd quarter. Pathstone Holdings LLC now owns 563,544 shares of the financial services provider's stock worth $5,821,000 after acquiring an additional 33,826 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Putnam Mun Oppo by 33.0% during the 4th quarter. Wells Fargo & Company MN now owns 372,017 shares of the financial services provider's stock worth $3,981,000 after acquiring an additional 92,359 shares during the period. 20.40% of the stock is owned by 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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