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

Putnam Mun Oppo (NYSE:PMO – Get Free Report)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-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 changing hands.

Putnam Mun Oppo Stock Performance

The company has a 50 day moving average price of $10.39 and a 200 day moving average price of $10.49.

Get Putnam Mun Oppo alerts:

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 dividend of $0.033 per share. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 24th.

Hedge Funds Weigh In On Putnam Mun Oppo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rivernorth Capital Management LLC boosted its stake in shares of Putnam Mun Oppo by 60.4% during 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. Bank of New York Mellon Corp purchased a new position in shares of Putnam Mun Oppo during the 1st quarter valued at approximately $500,000. Fifth Third Bancorp boosted its stake 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 valued at $97,000 after buying an additional 6,840 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of Putnam Mun Oppo during the 1st quarter valued at approximately $126,000. Finally, Worthington Financial Partners LLC purchased a new position in shares of Putnam Mun Oppo during the 4th quarter valued at approximately $1,627,000. 20.40% of the stock is currently owned by hedge funds and other 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.

Featured Articles

• Five stocks we like better than Putnam Mun Oppo
• Everpure: AI Storage Uncertainty Overshadows Breakneck Growth
• This Tech ETF Is Beating QQQ—and Canada May Be Part of the Reason
• Intel Is the Market’s Most Mispriced AI Hedge
• The Biggest Opportunity From SpaceX’s IPO May Surprise You

Receive News & Ratings for Putnam Mun Oppo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Putnam Mun Oppo and related companies with MarketBeat.com's FREE daily email newsletter.