Putnam Mun Oppo (NYSE:PMO) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Putnam Mun Oppo (NYSE:PMO – Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.43 and traded as high as $10.67. Putnam Mun Oppo shares last traded at $10.67, with a volume of 26,378 shares.

Putnam Mun Oppo Price Performance

The firm has a fifty day simple moving average of $10.44 and a two-hundred day simple moving average of $10.50.

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Putnam Mun Oppo Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a dividend of $0.033 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 3.7%.

Institutional Investors Weigh In On Putnam Mun Oppo

Several hedge funds have recently bought and sold shares of PMO. Elyxium Wealth LLC bought a new position in shares of Putnam Mun Oppo in the 4th quarter worth $44,000. Fifth Third Bancorp lifted its holdings in shares of Putnam Mun Oppo by 269.4% during the 1st quarter. Fifth Third Bancorp now owns 9,379 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 6,840 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Putnam Mun Oppo in the second quarter worth $99,000. Citadel Advisors LLC purchased a new position in Putnam Mun Oppo in the third quarter worth $106,000. Finally, MML Investors Services LLC bought a new position in Putnam Mun Oppo in the fourth quarter valued at $107,000. 20.40% of the stock is currently owned by institutional investors.

Putnam Mun Oppo Company Profile

(Get Free Report)

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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