Putnam Municipal Opportunities Trust (NYSE:PMO) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Putnam Municipal Opportunities Trust (NYSE:PMO)’s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $10.46 and traded as low as $10.25. Putnam Municipal Opportunities Trust shares last traded at $10.27, with a volume of 99,951 shares traded.

Putnam Municipal Opportunities Trust Stock Performance

The business’s 50 day moving average price is $10.47 and its 200 day moving average price is $10.50.

Putnam Municipal Opportunities Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.42 annualized dividend and a yield of 4.11%.

Institutional Investors Weigh In On Putnam Municipal Opportunities Trust

Several hedge funds have recently modified their holdings of PMO. Guggenheim Capital LLC raised its holdings in Putnam Municipal Opportunities Trust by 11.9% in the 4th quarter. Guggenheim Capital LLC now owns 368,040 shares of the financial services provider’s stock worth $3,728,000 after purchasing an additional 39,272 shares during the period. 1607 Capital Partners LLC raised its stake in shares of Putnam Municipal Opportunities Trust by 54.1% during the 4th quarter. 1607 Capital Partners LLC now owns 362,681 shares of the financial services provider’s stock worth $3,674,000 after buying an additional 127,300 shares during the period. Pathstone Holdings LLC purchased a new position in shares of Putnam Municipal Opportunities Trust during the 3rd quarter valued at approximately $3,898,000. Hennion & Walsh Asset Management Inc. grew its stake in Putnam Municipal Opportunities Trust by 2,144.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 344,532 shares of the financial services provider’s stock valued at $3,490,000 after acquiring an additional 329,179 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Putnam Municipal Opportunities Trust by 92.2% in the 4th quarter. Advisors Asset Management Inc. now owns 291,314 shares of the financial services provider’s stock worth $2,951,000 after acquiring an additional 139,739 shares in the last quarter. 20.40% of the stock is owned by hedge funds and other institutional investors.

Putnam Municipal Opportunities Trust Company Profile

Putnam Municipal Opportunities Trust is a closed ended fixed income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in fixed income markets of United States. The fund invests in companies operating across healthcare, utilities, transportation, water and sewer, and housing sectors.