Putnam Mun Oppo (NYSE:PMO) to Issue Monthly Dividend of $0.03

Putnam Mun Oppo (NYSE:PMO) declared a monthly dividend on Thursday, May 14th. Investors of record on Friday, July 24th will be paid a dividend of 0.033 per share by the financial services provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, July 24th.

Putnam Mun Oppo Stock Performance

PMO traded up $0.09 on Thursday, reaching $10.48. 114,149 shares of the company traded hands, compared to its average volume of 68,662. The stock’s 50 day moving average price is $10.41 and its 200-day moving average price is $10.49. Putnam Mun Oppo has a 52-week low of $9.70 and a 52-week high of $10.87.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PMO. Guggenheim Capital LLC grew its position in Putnam Mun Oppo by 9.2% in the fourth quarter. Guggenheim Capital LLC now owns 663,914 shares of the financial services provider’s stock worth $7,104,000 after acquiring an additional 56,158 shares in the last quarter. Advisors Asset Management Inc. grew its position 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 worth $6,402,000 after acquiring an additional 177,794 shares in the last quarter. Pathstone Holdings LLC grew its position in Putnam Mun Oppo by 6.4% in the third quarter. Pathstone Holdings LLC now owns 563,544 shares of the financial services provider’s stock worth $5,821,000 after acquiring an additional 33,826 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Putnam Mun Oppo by 15.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 518,691 shares of the financial services provider’s stock worth $5,550,000 after acquiring an additional 70,735 shares in the last quarter. Finally, Rivernorth Capital Management LLC grew its position in Putnam Mun Oppo by 72.8% in the fourth quarter. Rivernorth Capital Management LLC now owns 427,625 shares of the financial services provider’s stock worth $4,576,000 after acquiring an additional 180,105 shares in the last quarter. 20.40% of the stock is owned by hedge funds and other institutional investors.

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.