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

Key Points

• Putnam Mun Oppo (NYSE:PMO) experienced a substantial 30.0% decrease in short interest, dropping from 37,700 shares to 26,400 shares as of September 30th.
• The company declared a monthly dividend of $0.0393 per share, which will be paid on October 31st, representing an annualized yield of 4.5%.
• Institutional investors currently hold 20.40% of Putnam Mun Oppo's stock, with several hedge funds acquiring new stakes during the second quarter.

Putnam Mun Oppo (NYSE:PMO - ) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 26,400 shares, a decrease of 30.0% from the September 15th total of 37,700 shares. Based on an average trading volume of 68,600 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 68,600 shares, the days-to-cover ratio is currently 0.4 days.

Putnam Mun Oppo Stock Down 0.0%

PMO stock traded down $0.01 during midday trading on Thursday, reaching $10.39. The company had a trading volume of 26,633 shares, compared to its average volume of 75,364. Putnam Mun Oppo has a 1 year low of $9.34 and a 1 year high of $10.90. The company has a 50 day moving average of $10.17 and a two-hundred day moving average of $9.94.

Putnam Mun Oppo Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $0.0393 dividend. The ex-dividend date is Friday, October 17th. This represents a c) dividend on an annualized basis and a yield of 4.5%.

Institutional Investors Weigh In On Putnam Mun Oppo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CX Institutional purchased a new stake in Putnam Mun Oppo in the 2nd quarter worth approximately $29,000. ST Germain D J Co. Inc. purchased a new stake in Putnam Mun Oppo in the 2nd quarter worth approximately $30,000. Duncker Streett & Co. Inc. purchased a new stake in Putnam Mun Oppo in the 2nd quarter worth approximately $48,000. Wolverine Asset Management LLC purchased a new stake in Putnam Mun Oppo in the 1st quarter worth approximately $50,000. Finally, Elequin Capital LP purchased a new stake in Putnam Mun Oppo in the 1st quarter worth approximately $72,000. Hedge funds and other institutional investors own 20.40% of the company's stock.

About Putnam Mun Oppo

Putnam Municipal Opportunities Trust is a closed ended fixed income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in fixed income markets of United States. The fund invests in companies operating across healthcare, utilities, transportation, water and sewer, and housing sectors.

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