Putnam Mun Oppo (NYSE:PMO) Shares Pass Below 50 Day Moving Average - Here's Why

Key Points

• Putnam Mun Oppo shares fell below their fifty-day moving average of $9.83, trading as low as $9.79 during recent sessions.
• The company announced a dividend payment of $0.0393, yielding 476.0%, scheduled for August 29 for shareholders of record on August 19.
• Institutional investors currently hold about 20.40% of Putnam Mun Oppo's stock, with several institutions acquiring new positions in the second quarter.

Putnam Mun Oppo (NYSE:PMO - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $9.83 and traded as low as $9.79. Putnam Mun Oppo shares last traded at $9.84, with a volume of 85,520 shares changing hands.

Putnam Mun Oppo Trading Down 0.9%

The firm has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $9.97.

Putnam Mun Oppo Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $0.0393 per share. The ex-dividend date is Friday, October 17th. This represents a c) annualized dividend and a dividend yield of 4.8%.

Hedge Funds Weigh In On Putnam Mun Oppo

Institutional investors and hedge funds have recently modified their holdings of the stock. Concurrent Investment Advisors LLC increased its holdings in shares of Putnam Mun Oppo by 15.1% during the first quarter. Concurrent Investment Advisors LLC now owns 17,385 shares of the financial services provider's stock valued at $177,000 after acquiring an additional 2,275 shares in the last quarter. Citadel Advisors LLC increased its holdings in shares of Putnam Mun Oppo by 9.5% during the fourth quarter. Citadel Advisors LLC now owns 12,176 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 1,059 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Putnam Mun Oppo during the fourth quarter valued at $318,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of 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 valued at $4,660,000 after acquiring an additional 112,761 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Putnam Mun Oppo by 3.1% in the 4th quarter. Stifel Financial Corp now owns 36,713 shares of the financial services provider's stock worth $372,000 after buying an additional 1,112 shares in the last quarter. 20.40% of the stock is currently owned by institutional investors.

Putnam Mun Oppo Company 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.