Putnam Mun Oppo (NYSE:PMO) Shares Shorted: Short Interest Up 589.8% in October

Putnam Mun Oppo (NYSE:PMO) saw a significant 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 currently 0.4 days. Currently, 0.3% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Rivernorth Capital Management LLC boosted its stake in Putnam Mun Oppo by 60.4% during the first quarter. Rivernorth Capital Management LLC now owns 685,823 shares of the financial services provider’s stock worth $7,064,000 after acquiring an additional 258,198 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Putnam Mun Oppo in the first quarter worth about $500,000. Robinson Capital Management LLC increased its stake in shares of Putnam Mun Oppo by 11.6% during the second quarter. Robinson Capital Management LLC now owns 645,263 shares of the financial services provider’s stock valued at $6,801,000 after purchasing an additional 66,992 shares in the last quarter. Fifth Third Bancorp increased 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 purchasing an additional 6,840 shares in the last quarter. Finally, Oakmont Investment Advisors Inc. bought a new position in shares of Putnam Mun Oppo during the second quarter valued at approximately $105,000. 20.40% of the stock is currently owned by institutional investors.

Putnam Mun Oppo Price Performance

PMO stock traded up $0.04 during midday trading on Tuesday, hitting $9.88. The stock had a trading volume of 44,043 shares, compared to its average volume of 78,360. The business has a 50-day moving average of $9.75 and a two-hundred day moving average of $10.32. Putnam Mun Oppo has a 52-week low of $8.87 and a 52-week high of $10.87.

Putnam Mun Oppo Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a $0.0520 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 6.3%.

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.