Advisors Asset Management Inc. Purchases 139,739 Shares of Putnam Municipal Opportunities Trust (NYSE:PMO)

Advisors Asset Management Inc. boosted its stake in shares of Putnam Municipal Opportunities Trust (NYSE:PMO) by 92.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 291,314 shares of the financial services provider’s stock after buying an additional 139,739 shares during the period. Advisors Asset Management Inc.’s holdings in Putnam Municipal Opportunities Trust were worth $2,951,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PMO. Pathstone Holdings LLC acquired a new stake in Putnam Municipal Opportunities Trust during the 3rd quarter worth approximately $3,898,000. Hennion & Walsh Asset Management Inc. raised its holdings in Putnam Municipal Opportunities Trust by 2,144.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 344,532 shares of the financial services provider’s stock worth $3,490,000 after buying an additional 329,179 shares during the period. Raymond James Financial Inc. acquired a new stake in Putnam Municipal Opportunities Trust during the 4th quarter worth approximately $916,000. Rivernorth Capital Management LLC raised its holdings in Putnam Municipal Opportunities Trust by 61.4% during the 3rd quarter. Rivernorth Capital Management LLC now owns 179,697 shares of the financial services provider’s stock worth $1,959,000 after buying an additional 68,382 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Putnam Municipal Opportunities Trust by 129.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 94,408 shares of the financial services provider’s stock worth $956,000 after buying an additional 53,322 shares during the period. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Putnam Municipal Opportunities Trust Stock Performance

Shares of PMO stock opened at $10.29 on Friday. Putnam Municipal Opportunities Trust has a 52 week low of $9.69 and a 52 week high of $10.96. The company’s 50 day moving average price is $10.48 and its two-hundred day moving average price is $10.50.

Putnam Municipal Opportunities Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.08%.

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.