Putnam Mun Oppo (NYSE:PMO) Sees Significant Growth in Short Interest

Putnam Mun Oppo (NYSE:PMO) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 22,521 shares, an increase of 28.8% from the February 26th total of 17,492 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 62,602 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in Putnam Mun Oppo in the fourth quarter valued at $44,000. Nomura Holdings Inc. bought a new position in shares of Putnam Mun Oppo during the second quarter worth about $99,000. Wellspring Financial Advisors LLC acquired a new stake in shares of Putnam Mun Oppo in the 2nd quarter worth about $104,000. Citadel Advisors LLC acquired a new stake in shares of Putnam Mun Oppo in the 3rd quarter worth about $106,000. Finally, MML Investors Services LLC bought a new stake in Putnam Mun Oppo in the 4th quarter valued at about $107,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Putnam Mun Oppo Stock Up 1.7%

Shares of PMO stock opened at $10.23 on Wednesday. Putnam Mun Oppo has a one year low of $9.34 and a one year high of $10.87. The company’s 50-day simple moving average is $10.57 and its 200-day simple moving average is $10.48.

Putnam Mun Oppo Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.0393 per share. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a yield of 4.6%.

Putnam Mun Oppo Company Profile

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.