Putnam Mun Oppo (NYSE:PMO) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Putnam Mun Oppo (NYSE:PMO)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.29 and traded as low as $9.72. Putnam Mun Oppo shares last traded at $9.7660, with a volume of 81,305 shares trading hands.

Putnam Mun Oppo Stock Performance

The company’s 50-day simple moving average is $10.27 and its 200 day simple moving average is $10.40.

Putnam Mun Oppo Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be issued a $0.052 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC lifted its stake in shares of Putnam Mun Oppo by 60.4% in the 1st quarter. Rivernorth Capital Management LLC now owns 685,823 shares of the financial services provider’s stock valued at $7,064,000 after purchasing an additional 258,198 shares during the last quarter. Robinson Capital Management LLC increased its position in shares of Putnam Mun Oppo by 11.6% during the 2nd quarter. Robinson Capital Management LLC now owns 645,263 shares of the financial services provider’s stock valued at $6,801,000 after purchasing an additional 66,992 shares during the last quarter. Worthington Financial Partners LLC purchased a new stake in Putnam Mun Oppo during the 4th quarter valued at $1,627,000. Noble Wealth Management PBC raised its holdings in Putnam Mun Oppo by 92.9% during the 2nd quarter. Noble Wealth Management PBC now owns 82,471 shares of the financial services provider’s stock valued at $869,000 after buying an additional 39,721 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Putnam Mun Oppo in the first quarter worth $500,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

About Putnam Mun Oppo

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.