Putnam Mun Oppo (NYSE:PMO) Announces $0.05 Monthly Dividend

Putnam Mun Oppo (NYSE:PMO) declared a monthly dividend on Wednesday, August 5th. Stockholders of record on Friday, October 23rd will be paid a dividend of 0.052 per share by the financial services provider on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Friday, October 23rd.

Putnam Mun Oppo Price Performance

PMO stock traded up $0.05 during trading on Thursday, reaching $10.29. 8,399 shares of the company were exchanged, compared to its average volume of 65,505. Putnam Mun Oppo has a twelve month low of $9.72 and a twelve month high of $10.87. The company has a 50-day moving average of $10.55 and a two-hundred day moving average of $10.51.

Institutional Investors Weigh In On Putnam Mun Oppo

Several large investors have recently modified their holdings of the company. Noble Wealth Management PBC boosted its position in Putnam Mun Oppo by 92.9% during the second quarter. Noble Wealth Management PBC now owns 82,471 shares of the financial services provider’s stock valued at $869,000 after acquiring an additional 39,721 shares during the last quarter. Rivernorth Capital Management LLC increased its stake in 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 purchasing an additional 258,198 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Putnam Mun Oppo during the 1st quarter valued at $500,000. Fifth Third Bancorp raised its holdings in Putnam Mun Oppo by 269.4% during the first quarter. Fifth Third Bancorp now owns 9,379 shares of the financial services provider’s stock worth $97,000 after buying an additional 6,840 shares during the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in shares of Putnam Mun Oppo in the first quarter valued at $126,000. 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 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.