Putnam Mun Oppo (NYSE:PMO) Shares Cross Below 50-Day Moving Average – What’s Next?

Putnam Mun Oppo (NYSE:PMO) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.62 and traded as low as $10.14. Putnam Mun Oppo shares last traded at $10.16, with a volume of 73,862 shares changing hands.

Putnam Mun Oppo Trading Down 0.8%

The company has a fifty day moving average of $10.60 and a two-hundred day moving average of $10.48.

Putnam Mun Oppo Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.0393 per share. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 4.7%.

Institutional Investors Weigh In On Putnam Mun Oppo

Several institutional investors have recently made changes to their positions in PMO. Rivernorth Capital Management LLC grew its holdings in Putnam Mun Oppo by 72.8% during the 4th quarter. Rivernorth Capital Management LLC now owns 427,625 shares of the financial services provider’s stock valued at $4,576,000 after purchasing an additional 180,105 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in 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 worth $6,402,000 after purchasing an additional 177,794 shares during the last quarter. Worthington Financial Partners LLC bought a new stake in Putnam Mun Oppo in the fourth quarter worth about $1,627,000. Karpus Management Inc. boosted its position in shares of Putnam Mun Oppo by 133.0% during the second quarter. Karpus Management Inc. now owns 231,992 shares of the financial services provider’s stock valued at $2,294,000 after buying an additional 132,444 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of Putnam Mun Oppo by 26.1% during the second quarter. Guggenheim Capital LLC now owns 604,966 shares of the financial services provider’s stock valued at $5,983,000 after buying an additional 125,200 shares during the period. Institutional investors own 20.40% of the company’s stock.

About Putnam Mun Oppo

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.