Putnam Mun Oppo (NYSE:PMO) Sees Large Drop in Short Interest

Putnam Mun Oppo (NYSE:PMO) saw a significant drop in short interest in September. As of September 15th, there was short interest totaling 13,680 shares, a drop of 36.9% from the August 31st total of 21,694 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 55,271 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in Putnam Mun Oppo in the second quarter valued at about $76,000. Fifth Third Bancorp grew 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 worth $97,000 after acquiring an additional 6,840 shares during the last quarter. Oakmont Investment Advisors Inc. acquired a new position in shares of Putnam Mun Oppo during the second quarter valued at about $105,000. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in shares of Putnam Mun Oppo during the first quarter valued at about $126,000. Finally, Moors & Cabot Inc. raised its position in shares of Putnam Mun Oppo by 13.3% in the 4th quarter. Moors & Cabot Inc. now owns 13,838 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 1,620 shares during the last quarter. 20.40% of the stock is owned by institutional investors and hedge funds.

Putnam Mun Oppo Stock Performance

Shares of PMO stock traded up $0.08 during trading hours on Thursday, reaching $9.15. 8,116 shares of the company’s stock were exchanged, compared to its average volume of 70,766. The stock’s 50 day moving average is $10.05 and its 200-day moving average is $10.32. Putnam Mun Oppo has a fifty-two week low of $8.87 and a fifty-two week high of $10.87.

Putnam Mun Oppo Dividend Announcement

The firm also recently announced 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. This represents a $0.62 annualized dividend and a yield of 6.8%. The ex-dividend date is Friday, November 20th.

About Putnam Mun Oppo

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

Its portfolio may include general obligation and revenue bonds, as well as other tax-exempt debt instruments used to finance public infrastructure and services. The trust’s investments can span municipal issuers across various U.S.