Putnam Mun Oppo (NYSE:PMO) Shares Cross Below 50 Day Moving Average – Here’s Why

Putnam Mun Oppo (NYSE:PMO) shares crossed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $9.88 and traded as low as $9.35. Putnam Mun Oppo shares last traded at $9.4150, with a volume of 94,681 shares traded.

Putnam Mun Oppo Trading Down 1.0%

The business has a 50-day simple moving average of $9.85 and a 200-day simple moving average of $10.24.

Putnam Mun Oppo Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a $0.0520 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 6.7%.

Institutional Trading of Putnam Mun Oppo

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rivernorth Capital Management LLC grew 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 buying an additional 258,198 shares during the last quarter. Robinson Capital Management LLC raised its holdings in Putnam Mun Oppo by 11.6% in the 2nd quarter. Robinson Capital Management LLC now owns 645,263 shares of the financial services provider’s stock worth $6,801,000 after acquiring an additional 66,992 shares during the period. Worthington Financial Partners LLC bought a new position in Putnam Mun Oppo in the 4th quarter worth $1,627,000. Noble Wealth Management PBC raised its holdings in Putnam Mun Oppo by 92.9% in the 2nd quarter. Noble Wealth Management PBC now owns 82,471 shares of the financial services provider’s stock worth $869,000 after acquiring an additional 39,721 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Putnam Mun Oppo in the 1st quarter worth $500,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

About Putnam Mun Oppo

Putnam Municipal Opportunities Trust (NYSE: PMO) is a closed-end management investment company that seeks to provide high current income exempt from federal income tax. The fund primarily invests in a diversified portfolio of municipal bonds and other tax-exempt securities issued by states, municipalities and related governmental entities.

The trust may invest in municipal obligations with varying maturities and credit qualities, including bonds financing public infrastructure and other government-related projects.