Putnam Municipal Opportunities Trust (NYSE:PMO) Shares Acquired by Bank of America Corp DE

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Bank of America Corp DE boosted its holdings in shares of Putnam Municipal Opportunities Trust (NYSE:PMO) by 4.5% in the 2nd quarter, Holdings Channel reports. The firm owned 180,464 shares of the financial services provider’s stock after buying an additional 7,786 shares during the period. Bank of America Corp DE’s holdings in Putnam Municipal Opportunities Trust were worth $2,285,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its stake in Putnam Municipal Opportunities Trust by 3.7% during the second quarter. Commonwealth Equity Services LLC now owns 212,285 shares of the financial services provider’s stock valued at $2,687,000 after purchasing an additional 7,635 shares during the last quarter. Invesco Ltd. lifted its position in shares of Putnam Municipal Opportunities Trust by 2.6% in the 2nd quarter. Invesco Ltd. now owns 185,875 shares of the financial services provider’s stock valued at $2,353,000 after acquiring an additional 4,641 shares in the last quarter. 1ST Source Bank lifted its position in shares of Putnam Municipal Opportunities Trust by 9.9% in the 2nd quarter. 1ST Source Bank now owns 137,004 shares of the financial services provider’s stock valued at $1,735,000 after acquiring an additional 12,286 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Putnam Municipal Opportunities Trust by 3.0% in the 2nd quarter. Cohen & Steers Inc. now owns 30,505 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 888 shares in the last quarter. Finally, Boston Private Wealth LLC purchased a new stake in shares of Putnam Municipal Opportunities Trust in the 2nd quarter valued at approximately $366,000. 18.42% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:PMO opened at $13.13 on Monday. Putnam Municipal Opportunities Trust has a 52 week low of $10.85 and a 52 week high of $13.52. The firm has a 50 day simple moving average of $13.14 and a 200 day simple moving average of $12.81.

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

PMO has been the subject of several research analyst reports. Peel Hunt restated a “buy” rating and issued a $165.00 price target on shares of Putnam Municipal Opportunities Trust in a research report on Thursday. Barclays upped their price target on shares of Putnam Municipal Opportunities Trust from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Royal Bank of Canada restated a “top pick” rating on shares of Putnam Municipal Opportunities Trust in a research report on Friday.

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.

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Institutional Ownership by Quarter for Putnam Municipal Opportunities Trust (NYSE:PMO)

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