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

Putnam Mun Oppo (NYSE:PMO) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 71,405 shares, a growth of 589.8% from the September 30th total of 10,351 shares. Based on an average daily volume of 168,230 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Putnam Mun Oppo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Putnam Mun Oppo during the 2nd quarter valued at about $76,000. Fifth Third Bancorp grew its holdings 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 worth $97,000 after purchasing an additional 6,840 shares in the last quarter. Oakmont Investment Advisors Inc. purchased a new position in shares of Putnam Mun Oppo during the second quarter worth about $105,000. Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in shares of Putnam Mun Oppo in the first quarter worth approximately $126,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Putnam Mun Oppo in the first quarter worth approximately $500,000. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Mun Oppo Stock Down 0.7%

Shares of PMO traded down $0.07 during mid-day trading on Wednesday, reaching $9.82. 55,903 shares of the stock traded hands, compared to its average volume of 78,527. Putnam Mun Oppo has a 1 year low of $8.87 and a 1 year high of $10.87. The firm has a fifty day moving average price of $9.74 and a 200 day moving average price of $10.32.

Putnam Mun Oppo Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be paid a dividend of $0.0520 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.62 annualized dividend and a yield of 6.4%.

About Putnam Mun Oppo

Putnam Municipal Opportunities Trust (NYSE: PMO) is a closed-end management investment company that seeks to provide current income that is exempt from federal income tax. The fund invests primarily in municipal securities issued by states, municipalities and other governmental entities in the United States.

The portfolio may include a range of tax-exempt bonds and other municipal debt obligations. These securities generally finance public projects and services such as infrastructure, schools, transportation systems, utilities and healthcare facilities.