Putnam Mun Oppo (NYSE:PMO) Trading Down 0.2% – Here’s What Happened

Putnam Mun Oppo (NYSE:PMO)’s share price dropped 0.2% during trading on Wednesday . The stock traded as low as $10.46 and last traded at $10.4850. Approximately 67,465 shares were traded during trading, an increase of 2% from the average daily volume of 66,367 shares. The stock had previously closed at $10.51.

Putnam Mun Oppo Trading Up 0.0%

The firm has a fifty day moving average of $10.49 and a 200 day moving average of $10.48.

Putnam Mun Oppo Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be issued a dividend of $0.0393 per share. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Trading of Putnam Mun Oppo

Several hedge funds and other institutional investors have recently bought and sold shares of PMO. Royal Bank of Canada grew its holdings in Putnam Mun Oppo by 16.6% during the first quarter. Royal Bank of Canada now owns 22,246 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 3,162 shares during the period. Invesco Ltd. grew its holdings in Putnam Mun Oppo by 228.4% during the second quarter. Invesco Ltd. now owns 78,733 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 54,761 shares during the period. Karpus Management Inc. grew its holdings in Putnam Mun Oppo by 133.0% in the second quarter. Karpus Management Inc. now owns 231,992 shares of the financial services provider’s stock valued at $2,294,000 after purchasing an additional 132,444 shares during the period. Bank of America Corp DE grew its holdings in Putnam Mun Oppo by 20.6% in the second quarter. Bank of America Corp DE now owns 152,349 shares of the financial services provider’s stock valued at $1,507,000 after purchasing an additional 26,015 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in Putnam Mun Oppo in the second quarter valued at approximately $99,000. 20.40% of the stock is owned by institutional investors and hedge funds.

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.