Putnam Mun Oppo (NYSE:PMO) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Putnam Mun Oppo (NYSE:PMO)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.29 and traded as high as $10.36. Putnam Mun Oppo shares last traded at $10.35, with a volume of 129,645 shares trading hands.

Putnam Mun Oppo Stock Performance

The company has a 50 day moving average price of $9.69 and a two-hundred day moving average price of $10.29.

Institutional Trading of Putnam Mun Oppo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC raised its holdings 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 buying an additional 258,198 shares during the period. Bank of New York Mellon Corp acquired a new position in Putnam Mun Oppo during the 1st quarter worth approximately $500,000. Robinson Capital Management LLC increased its holdings in Putnam Mun Oppo by 11.6% in the second quarter. Robinson Capital Management LLC now owns 645,263 shares of the financial services provider’s stock valued at $6,801,000 after buying an additional 66,992 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Putnam Mun Oppo by 25.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,780 shares of the financial services provider’s stock valued at $3,526,000 after acquiring an additional 78,349 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Putnam Mun Oppo by 620.0% during the third quarter. International Assets Investment Management LLC now owns 11,347 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 9,771 shares in the last quarter. 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 that seeks to provide current income that is exempt from federal income tax. The fund invests primarily in municipal securities issued by states, municipalities and other governmental entities in the United States.

The portfolio may include a range of tax-exempt bonds and other municipal debt obligations. These securities generally finance public projects and services such as infrastructure, schools, transportation systems, utilities and healthcare facilities.