Peel Hunt Reaffirms “Buy” Rating for Putnam Municipal Opportunities Trust (NYSE:PMO)

Share on StockTwits

Peel Hunt restated their buy rating on shares of Putnam Municipal Opportunities Trust (NYSE:PMO) in a research note published on Thursday morning, Stock Target Advisor reports. Peel Hunt currently has a $165.00 price target on the financial services provider’s stock.

NYSE PMO opened at $13.13 on Thursday. Putnam Municipal Opportunities Trust has a 52-week low of $10.85 and a 52-week high of $13.52. The business’s 50-day moving average price is $13.14 and its 200 day moving average price is $12.81.

The business also recently declared a — dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 24th will be issued a dividend of $0.0531 per share. This represents a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, October 23rd.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PMO. National Asset Management Inc. purchased a new position in shares of Putnam Municipal Opportunities Trust during the second quarter worth about $149,000. D.A. Davidson & CO. purchased a new stake in Putnam Municipal Opportunities Trust in the 2nd quarter valued at approximately $254,000. Creative Planning boosted its holdings in Putnam Municipal Opportunities Trust by 61.6% in the 2nd quarter. Creative Planning now owns 24,044 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 9,164 shares in the last quarter. Advisor Group Inc. boosted its holdings in Putnam Municipal Opportunities Trust by 136.0% in the 2nd quarter. Advisor Group Inc. now owns 27,763 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Boston Private Wealth LLC purchased a new stake in Putnam Municipal Opportunities Trust in the 2nd quarter valued at approximately $366,000. 18.42% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Story: Are analyst ratings accurate?

Receive News & Ratings for Putnam Municipal Opportunities Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Putnam Municipal Opportunities Trust and related companies with MarketBeat.com's FREE daily email newsletter.