Putnam Mun Oppo (NYSE:PMO) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Putnam Mun Oppo (NYSE:PMO)’s stock price passed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $10.14 and traded as low as $9.22. Putnam Mun Oppo shares last traded at $9.3240, with a volume of 171,983 shares.

Putnam Mun Oppo Stock Performance

The stock has a 50 day simple moving average of $10.14 and a 200 day simple moving average of $10.36.

Putnam Mun Oppo Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.0520 per share. This represents a $0.62 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PMO. Integrated Wealth Concepts LLC bought a new stake in Putnam Mun Oppo during the second quarter worth about $76,000. Fifth Third Bancorp increased its holdings in Putnam Mun Oppo by 269.4% in 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 period. Oakmont Investment Advisors Inc. acquired a new position in shares of Putnam Mun Oppo in the 2nd quarter valued at approximately $105,000. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in shares of Putnam Mun Oppo in the 1st quarter valued at approximately $126,000. Finally, Moors & Cabot Inc. raised its position in shares of Putnam Mun Oppo by 13.3% in the 4th quarter. Moors & Cabot Inc. now owns 13,838 shares of the financial services provider’s stock valued at $148,000 after buying an additional 1,620 shares in the last quarter. Institutional investors and hedge funds own 20.40% of the company’s stock.

Putnam Mun Oppo Company Profile

Putnam Municipal Opportunities Trust (NYSE: PMO) is a closed-end management investment company designed to provide current income that is generally exempt from federal income tax. The trust invests primarily in municipal securities issued by states, municipalities, and other public entities in the United States.

Its portfolio may include general obligation and revenue bonds, as well as other tax-exempt debt instruments used to finance public infrastructure and services. The trust’s investments can span municipal issuers across various U.S.