Putnam Municipal Opportunities Trust (NYSE:PMO) Stock Passes Above 50-Day Moving Average of $10.53

Putnam Municipal Opportunities Trust (NYSE:PMO) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.53 and traded as high as $10.83. Putnam Municipal Opportunities Trust shares last traded at $10.79, with a volume of 92,400 shares changing hands.

Putnam Municipal Opportunities Trust Stock Performance

The stock has a 50 day moving average price of $10.55 and a two-hundred day moving average price of $10.23.

Putnam Municipal Opportunities Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th will be paid a $0.035 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $0.42 dividend on an annualized basis and a yield of 3.89%.

Institutional Investors Weigh In On Putnam Municipal Opportunities Trust

A number of large investors have recently bought and sold shares of PMO. Rothschild Investment LLC purchased a new position in shares of Putnam Municipal Opportunities Trust during the 2nd quarter valued at about $2,000,000. Park Avenue Securities LLC purchased a new stake in Putnam Municipal Opportunities Trust in the 1st quarter worth approximately $1,177,000. Van ECK Associates Corp grew its stake in shares of Putnam Municipal Opportunities Trust by 13.9% during the 2nd quarter. Van ECK Associates Corp now owns 231,553 shares of the financial services provider’s stock worth $2,376,000 after purchasing an additional 28,181 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Putnam Municipal Opportunities Trust during the 2nd quarter valued at approximately $422,000. Finally, Cetera Advisors LLC purchased a new position in shares of Putnam Municipal Opportunities Trust during the 1st quarter valued at approximately $155,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

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.