Short Interest in Putnam Mun Oppo (NYSE:PMO) Expands By 91.3%

Putnam Mun Oppo (NYSE:PMOGet Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 51,578 shares, an increase of 91.3% from the June 30th total of 26,957 shares. Based on an average trading volume of 66,760 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the shares of the stock are sold short.

Putnam Mun Oppo Stock Down 0.2%

PMO opened at $10.28 on Thursday. Putnam Mun Oppo has a 52 week low of $9.72 and a 52 week high of $10.87. The business’s fifty day simple moving average is $10.56 and its 200 day simple moving average is $10.52.

Putnam Mun Oppo Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.033 dividend. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, August 24th.

Institutional Investors Weigh In On Putnam Mun Oppo

Several hedge funds have recently modified their holdings of the company. Elyxium Wealth LLC acquired a new position in shares of Putnam Mun Oppo in the fourth quarter valued at approximately $44,000. Fifth Third Bancorp lifted its stake in shares of Putnam Mun Oppo by 269.4% during the first quarter. Fifth Third Bancorp now owns 9,379 shares of the financial services provider’s stock valued at $97,000 after buying an additional 6,840 shares during the period. Nomura Holdings Inc. acquired a new stake in Putnam Mun Oppo during the second quarter worth approximately $99,000. Citadel Advisors LLC acquired a new stake in Putnam Mun Oppo during the third quarter worth approximately $106,000. Finally, MML Investors Services LLC purchased a new stake in Putnam Mun Oppo in the 4th quarter worth approximately $107,000. 20.40% of the stock is owned by institutional investors and hedge funds.

About Putnam Mun Oppo

(Get Free Report)

Putnam Municipal Opportunities Trust (NYSE: PMO) is a diversified closed-end management investment company that seeks to provide current income exempt from federal income tax with a secondary objective of capital preservation. Established in 1982 and advised by Putnam Investment Management, the Trust invests primarily in municipal securities issued by U.S. states, municipalities and their instrumentalities. Its strategy combines high-quality bonds with selectively chosen sectors in the municipal market to generate tax-advantaged income for shareholders.

The Trust’s portfolio generally comprises general obligation bonds, revenue bonds and insured municipal securities, as well as unrated issues judged by its adviser to possess equivalent credit quality.

Further Reading

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