<PAGE> PAGE 1
000 A000000 10/31/96
000 C000000 0000900422
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PUTNAM MUNICIPAL OPPORTUNITIES TRUST
001 B000000 811-7626
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
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004 000000 N
005 000000 N
006 000000 N
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008 A000001 PUTNAM INVESTMENT MANAGEMENT, INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS CORP.
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 COOPERS & LYBRAND L.L.P.
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02110
015 A000001 PUTNAM FIDUCIARY TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 98
019 C000000 PUTNAMFUND
020 A000001 RAND FINANCIAL SERVICES
020 B000001 36-3849442
020 C000001 8
020 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000002 13-5674085
020 C000002 4
020 A000003 PAINE WEBBER INC.
020 B000003 13-2638166
020 C000003 3
020 A000004 BANK OF AMERICA NT & SA
020 B000004 94-1687665
020 C000004 3
020 A000005 MORGAN (J.P.) SECURITIES INC.
020 B000005 13-3224016
020 C000005 2
020 A000006 SALOMON BROTHERS INC.
020 B000006 13-3082694
020 C000006 1
020 A000007 SMITH, BARNEY, HARRIS, UPHAM & CO.
020 B000007 13-1912900
020 C000007 1
020 C000008 0
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022 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
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022 C000002 13322
022 D000002 7100
022 A000003 LEHMAN BROTHERS INC.
022 B000003 13-2518466
022 C000003 8411
022 D000003 8399
022 A000004 FIRST UNION SECURITIES INC.
022 B000004 56-1252143
022 C000004 1733
<PAGE> PAGE 3
022 D000004 3910
022 A000005 SMITH, BARNEY, HARRIS, UPHAM & CO.
022 B000005 13-1912900
022 C000005 2416
022 D000005 2444
022 A000006 GOLDMAN SACHS & CO.
022 B000006 13-5108880
022 C000006 2469
022 D000006 1863
022 A000007 FIRST BOSTON CO.
022 B000007 13-5659485
022 C000007 3189
022 D000007 0
022 A000008 PNC SECURITIES INC.
022 B000008 25-1471636
022 C000008 3161
022 D000008 0
022 A000009 REINOSO & CO., INC.
022 B000009 13-3318919
022 C000009 0
022 D000009 3003
022 A000010 CHASE MANHATTAN BANK
022 B000010 13-2633612
022 C000010 2464
022 D000010 0
023 C000000 54976
023 D000000 47291
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE PAUL BUCUVALUS
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Financial Data Schedule for Putnam Municipal Opportunities Trust
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-END> OCT-31-1996
<INVESTMENTS-AT-COST> 250,342,381
<INVESTMENTS-AT-VALUE> 255,304,192
<RECEIVABLES> 8,847,669
<ASSETS-OTHER> 76,464
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 264,228,325
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,965,693
<TOTAL-LIABILITIES> 1,965,693
<SENIOR-EQUITY> 40,000,000
<PAID-IN-CAPITAL-COMMON> 226,378,559
<SHARES-COMMON-STOCK> 16,157,092
<SHARES-COMMON-PRIOR> 16,157,092
<ACCUMULATED-NII-CURRENT> 140,090
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (9,217,828)
<ACCUM-APPREC-OR-DEPREC> 4,961,811
<NET-ASSETS> 262,262,632
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,188,225
<OTHER-INCOME> 0
<EXPENSES-NET> 1,228,410
<NET-INVESTMENT-INCOME> 7,959,815
<REALIZED-GAINS-CURRENT> 796,979
<APPREC-INCREASE-CURRENT> 4,146,583
<NET-CHANGE-FROM-OPS> 12,903,377
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,997,478)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4,143,235
<ACCUMULATED-NII-PRIOR> 940,417
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (10,014,807)
<GROSS-ADVISORY-FEES> 926,251
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,258,326
<AVERAGE-NET-ASSETS> 219,010,470
<PER-SHARE-NAV-BEGIN> 13.50
<PER-SHARE-NII> .49
<PER-SHARE-GAIN-APPREC> .31
<PER-SHARE-DIVIDEND> .50
<PER-SHARE-DISTRIBUTIONS> .50
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.75
<EXPENSE-RATIO> .57
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
