Putnam Mun Oppo (NYSE:PMO) Shares Shorted: Short Interest Down 36.9% in September

Key Points

• Short interest fell 36.9% in September to 13,680 shares, representing approximately 0.0% of PMO’s outstanding stock and just 0.2 days to cover.
• PMO shares traded at $9.15, near the lower end of their 12-month range of $8.87 to $10.87 and below both their 50-day and 200-day moving averages.
• The trust declared a monthly dividend of $0.052 per share, equivalent to about $0.62 annually and a 6.8% yield; institutional investors own 20.4% of the stock.

Putnam Mun Oppo (NYSE:PMO - Get Free Report) saw a significant drop in short interest in the month of 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. Approximately 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 55,271 shares, the days-to-cover ratio is presently 0.2 days.

Putnam Mun Oppo Stock Performance

NYSE:PMO traded up $0.08 during trading hours on Thursday, reaching $9.15. The company's stock had a trading volume of 8,116 shares, compared to its average volume of 70,766. Putnam Mun Oppo has a 12 month low of $8.87 and a 12 month high of $10.87. The stock has a 50 day moving average price of $10.05 and a two-hundred day moving average price of $10.32.

Putnam Mun Oppo Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a $0.0520 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 6.8%.

Institutional Investors Weigh In On Putnam Mun Oppo

Hedge funds have recently made changes to their positions in the stock. Moors & Cabot Inc. boosted its position in Putnam Mun Oppo by 13.3% during the fourth 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 in the last quarter. Ackerman Capital Advisors LLC lifted its position in shares of Putnam Mun Oppo by 12.4% during the fourth quarter. Ackerman Capital Advisors LLC now owns 22,500 shares of the financial services provider's stock valued at $241,000 after buying an additional 2,475 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Putnam Mun Oppo by 269.4% in the 1st 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 in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Putnam Mun Oppo in the 2nd quarter valued at about $76,000. Finally, Oakmont Investment Advisors Inc. purchased a new position in shares of Putnam Mun Oppo in the 2nd quarter worth approximately $105,000. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Mun Oppo Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.