Rivernorth Capital Management LLC Has $1.96 Million Holdings in Putnam Municipal Opportunities Trust (NYSE:PMO)

Rivernorth Capital Management LLC raised its position in shares of Putnam Municipal Opportunities Trust (NYSE:PMO) by 61.4% in the third quarter, HoldingsChannel.com reports. The firm owned 179,697 shares of the financial services provider’s stock after purchasing an additional 68,382 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Putnam Municipal Opportunities Trust were worth $1,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Integrated Capital Management Inc. increased its position in Putnam Municipal Opportunities Trust by 10.9% during the 2nd quarter. Integrated Capital Management Inc. now owns 18,399 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 1,805 shares during the period. Avior Wealth Management LLC increased its position in Putnam Municipal Opportunities Trust by 23.1% during the 3rd quarter. Avior Wealth Management LLC now owns 11,932 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 2,238 shares during the period. Moors & Cabot Inc. increased its position in Putnam Municipal Opportunities Trust by 18.2% during the 3rd quarter. Moors & Cabot Inc. now owns 16,853 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 2,600 shares during the period. Rockefeller Capital Management L.P. increased its position in Putnam Municipal Opportunities Trust by 4.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 139,457 shares of the financial services provider’s stock valued at $1,520,000 after purchasing an additional 5,697 shares during the period. Finally, Blue Bell Private Wealth Management LLC acquired a new stake in Putnam Municipal Opportunities Trust during the 2nd quarter valued at approximately $62,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Putnam Municipal Opportunities Trust Stock Performance

Putnam Municipal Opportunities Trust stock opened at $10.71 on Thursday. Putnam Municipal Opportunities Trust has a 52-week low of $9.69 and a 52-week high of $10.96. The stock’s 50 day moving average price is $10.60 and its two-hundred day moving average price is $10.43.

Putnam Municipal Opportunities Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd were issued a dividend of $0.035 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Friday, November 22nd.

Putnam Municipal Opportunities Trust 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.