Putnam Mun Oppo (PMO) To Go Ex-Dividend on July 24th

Putnam Mun Oppo (NYSE:PMO) announced a monthly dividend on Thursday, May 14th. Stockholders of record on Friday, July 24th will be paid a dividend of 0.033 per share by the financial services provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, July 24th.

Putnam Mun Oppo Stock Performance

Shares of NYSE PMO opened at $10.41 on Friday. The company has a 50 day simple moving average of $10.40 and a 200-day simple moving average of $10.49. Putnam Mun Oppo has a 1 year low of $9.70 and a 1 year high of $10.87.

Institutional Investors Weigh In On Putnam Mun Oppo

A number of institutional investors and hedge funds have recently bought and sold shares of PMO. Royal Bank of Canada lifted its position in Putnam Mun Oppo by 16.6% in the first quarter. Royal Bank of Canada now owns 22,246 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 3,162 shares during the last quarter. Invesco Ltd. increased its stake in Putnam Mun Oppo by 228.4% in the second quarter. Invesco Ltd. now owns 78,733 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 54,761 shares during the period. Karpus Management Inc. increased its stake in Putnam Mun Oppo by 133.0% in the second quarter. Karpus Management Inc. now owns 231,992 shares of the financial services provider’s stock valued at $2,294,000 after purchasing an additional 132,444 shares during the period. Bank of America Corp DE increased its stake in Putnam Mun Oppo by 20.6% in the second quarter. Bank of America Corp DE now owns 152,349 shares of the financial services provider’s stock valued at $1,507,000 after purchasing an additional 26,015 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Putnam Mun Oppo in the second quarter valued at $99,000. 20.40% of the stock is owned by hedge funds and other institutional investors.

About Putnam Mun Oppo

Putnam Municipal Opportunities Trust (NYSE: PMO) is a diversified closed-end management investment company that seeks to provide current income exempt from federal income tax with a secondary objective of capital preservation. Established in 1982 and advised by Putnam Investment Management, the Trust invests primarily in municipal securities issued by U.S. states, municipalities and their instrumentalities. Its strategy combines high-quality bonds with selectively chosen sectors in the municipal market to generate tax-advantaged income for shareholders.

The Trust’s portfolio generally comprises general obligation bonds, revenue bonds and insured municipal securities, as well as unrated issues judged by its adviser to possess equivalent credit quality.