Putnam Mun Oppo (NYSE:PMO) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Putnam Mun Oppo (NYSE:PMO)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.39 and traded as high as $10.55. Putnam Mun Oppo shares last traded at $10.5310, with a volume of 48,489 shares traded.

Putnam Mun Oppo Price Performance

The firm’s 50-day simple moving average is $10.40 and its two-hundred day simple moving average is $10.49.

Putnam Mun Oppo Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a $0.033 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On Putnam Mun Oppo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rivernorth Capital Management LLC boosted its position in shares of Putnam Mun Oppo by 60.4% during the first quarter. Rivernorth Capital Management LLC now owns 685,823 shares of the financial services provider’s stock worth $7,064,000 after purchasing an additional 258,198 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Putnam Mun Oppo by 9.2% during the fourth quarter. Guggenheim Capital LLC now owns 663,914 shares of the financial services provider’s stock worth $7,104,000 after purchasing an additional 56,158 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Putnam Mun Oppo by 42.3% during 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 in the last quarter. Pathstone Holdings LLC boosted its position in shares of Putnam Mun Oppo by 6.4% during the third quarter. Pathstone Holdings LLC now owns 563,544 shares of the financial services provider’s stock worth $5,821,000 after purchasing an additional 33,826 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Putnam Mun Oppo by 15.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 518,691 shares of the financial services provider’s stock worth $5,550,000 after purchasing an additional 70,735 shares in the last quarter. 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.