PMO - Franklin Municipal Opportunities Trust

What this means for you

None of the investors we follow has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

1. Oct 2, 2026

   The fund said it may sell new shares.

   Original document →

2. Oct 1, 2026

   The fund said it will repay some borrowed money on Oct 29, 2026.

   Original document →

3. July 22, 2026

   The fund said it may sell new shares.

   Original document →

About this fund

• Run by Franklin Advisers, Inc. Part of the Franklin Templeton Group of Funds fund family. As of April 30, 2026, from the fund's yearly report. Original document →
• Size: about $303 million of holdings, as of July 31, 2026. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 7% on top of its own money, as of July 31, 2026. Borrowed money makes gains and losses bigger. About 100% of that is money the fund has borrowed by selling preferred shares. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.6% a year in management fees; 1% a year in total, including interest on borrowed money. Fiscal year ended April 30, 2026. As of April 30, 2026, from the fund's yearly report. Original document →
  Among the 76 funds we follow that invest in tax-free municipal bonds, 14 charge a lower management fee and 11 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• Payouts: last fiscal year the fund told the regulator that part of what it paid out was not income (it came from gains or from your own money back). Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of April 30, 2026, from the fund's yearly report. Original document →
• Value of holdings per share at the last fiscal year end (April 30, 2026): $11.32. The shares traded at $10.37, about 8.4% below that. As of April 30, 2026, from the fund's yearly report. Original document →
• How the holdings did: down 1% over the last three months we have (May-July 2026), before the share price is taken into account. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 1994.

What a holder made

• The holdings over the last twelve months we have, to July 31, 2026: +8.5%. The quarterly reports carry no share price, so this is the holdings alone; the yearly report, once filed and read, adds what the shares returned. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Almost all tax-free municipal bonds (99%). About 99% issued in the U.S.

1. Texas Transportation Finance Corp., Series 2025 A - 5.4%
2. Metropolitan Pier & Exposition Authority - 4.8%
3. Pontiac School District - 2.8%
4. Metropolitan Transportation Authority, Series 2024 A - 2.8%
5. Commonwealth of Massachusetts, Series 2024 B - 2.6%
6. City of Miami FL, City of Miami, Series 2024 A - 2.2%
7. King County Public Hospital District No. 2 - 2.1%
8. San Francisco City & County Airport Comm-San Francisco International Airport, Series 2023 C - 2.1%
9. Alaska Industrial Development & Export Authority - 1.8%
10. Allegheny County Airport Authority, Series 2023 A - 1.7%

As of July 31, 2026, from the fund's quarterly holdings report. Original document →