Putnam Mun Oppo (NYSE:PMO) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

Putnam Mun Oppo (NYSE:PMO)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.37 and traded as low as $10.20. Putnam Mun Oppo shares last traded at $10.2550, with a volume of 23,255 shares changing hands.

Putnam Mun Oppo Stock Down 0.3%

The business has a 50 day simple moving average of $10.37 and a 200-day simple moving average of $10.49.

Putnam Mun Oppo Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.033 dividend. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PMO. Rivernorth Capital Management LLC grew its stake in Putnam Mun Oppo by 60.4% in the first quarter. Rivernorth Capital Management LLC now owns 685,823 shares of the financial services provider’s stock valued at $7,064,000 after acquiring an additional 258,198 shares during the period. Advisors Asset Management Inc. grew its stake in Putnam Mun Oppo by 42.3% in the fourth quarter. Advisors Asset Management Inc. now owns 598,344 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 177,794 shares during the period. Worthington Financial Partners LLC bought a new stake in shares of Putnam Mun Oppo in the fourth quarter valued at about $1,627,000. Karpus Management Inc. lifted its holdings in shares of 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 in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Putnam Mun Oppo by 33.0% in the fourth quarter. Wells Fargo & Company MN now owns 372,017 shares of the financial services provider’s stock valued at $3,981,000 after purchasing an additional 92,359 shares in the last quarter. 20.40% of the stock is 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.