Putnam Municipal Opportunities Trust said on April 21, 2023 that its board of directors declared a regular monthly dividend of $0.04 per share ($0.42 annualized). Previously, the company paid $0.04 per share.
Shares must be purchased before the ex-div date of May 23, 2023 to qualify for the dividend. Shareholders of record as of May 24, 2023 will receive the payment on June 1, 2023.
At the current share price of $10.29 / share, the stock’s dividend yield is 4.08%. Looking back five years and taking a sample every week, the average dividend yield has been 4.86%, the lowest has been 4.01%, and the highest has been 6.39%. The standard deviation of yields is 0.47 (n=196).
The current dividend yield is 1.67 standard deviations below the historical average.
The company’s 3-Year dividend growth rate is -0.34%.
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What is the Fund Sentiment?
There are 67 funds or institutions reporting positions in Putnam Municipal Opportunities Trust. This is a decrease of 6 owner(s) or 8.22% in the last quarter. Average portfolio weight of all funds dedicated to PMO is 0.19%, an increase of 359.95%. Total shares owned by institutions increased in the last three months by 12.87% to 4,500K shares.
What are Other Shareholders Doing?
Ameriprise Financial holds 704K shares. In it’s prior filing, the firm reported owning 386K shares, representing an increase of 45.19%. The firm increased its portfolio allocation in PMO by 921.40% over the last quarter.
Melfa Wealth Management holds 485K shares. In it’s prior filing, the firm reported owning 480K shares, representing an increase of 1.05%. The firm increased its portfolio allocation in PMO by 92,132.07% over the last quarter.
Commonwealth Equity Services holds 416K shares. In it’s prior filing, the firm reported owning 431K shares, representing a decrease of 3.68%. The firm decreased its portfolio allocation in PMO by 99.90% over the last quarter.
Bank Of America holds 285K shares. In it’s prior filing, the firm reported owning 214K shares, representing an increase of 25.18%. The firm increased its portfolio allocation in PMO by 41.01% over the last quarter.
Raymond James & Associates holds 191K shares. In it’s prior filing, the firm reported owning 189K shares, representing an increase of 1.12%. The firm decreased its portfolio allocation in PMO by 8.67% over the last quarter.
Putnam Municipal Opportunities Trust Background Information
(This description is provided by the company.)
Putnam Municipal Opportunities Trust is a closed-end fund seeking high current tax-free income and capital preservation by investing primarily in levered portfolio of municipal bonds. The fund seeks a high level of current income exempt from federal income tax, consistent with the preservation of capital. It invests in a portfolio of investment-grade and some below investment-grade municipal bonds. The fund uses leverage by issuing preferred shares to enhance returns, which involves risk and may increase the volatility of the net asset value (nav).
This story originally appeared on Fintel.
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