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

Key Points

• Short interest rose 26.1% to 30,831 shares as of April 15 (from 24,446 on March 31), leaving a short-interest ratio of 0.6 days and about 0.1% of shares sold short.
• Putnam declared a monthly dividend of $0.0393, payable May 29 to holders of record May 21 (ex-dividend May 21), implying an annualized yield of about 4.6%.
• Shares traded down to $10.35 (-0.2%) on above-average volume (100,835 vs. avg 69,017) and sit in a 12‑month range of $9.70–$10.87; roughly 20.4% of the stock is owned by hedge funds and other institutional investors.

Putnam Mun Oppo (NYSE:PMO - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 30,831 shares, a growth of 26.1% from the March 31st total of 24,446 shares. Based on an average daily volume of 55,998 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the shares of the stock are sold short.

Putnam Mun Oppo Stock Down 0.2%

Shares of NYSE PMO traded down $0.02 during midday trading on Friday, hitting $10.35. The company had a trading volume of 100,835 shares, compared to its average volume of 69,017. Putnam Mun Oppo has a twelve month low of $9.70 and a twelve month high of $10.87. The business has a 50-day simple moving average of $10.46 and a two-hundred day simple moving average of $10.49.

Putnam Mun Oppo Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be issued a $0.0393 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%.

Institutional Trading of Putnam Mun Oppo

A number of institutional investors have recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new stake in Putnam Mun Oppo in the fourth quarter valued at $44,000. Nomura Holdings Inc. acquired a new stake in Putnam Mun Oppo in the second quarter valued at $99,000. Citadel Advisors LLC acquired a new stake in Putnam Mun Oppo in the third quarter valued at $106,000. MML Investors Services LLC acquired a new position in Putnam Mun Oppo during the fourth quarter worth about $107,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in Putnam Mun Oppo during the first quarter worth about $126,000. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

About Putnam Mun Oppo

Putnam Municipal Opportunities Trust NYSE: PMO is a diversified closed-end management investment company that seeks to provide current income exempt from federal income tax with a secondary objective of capital preservation. Established in 1982 and advised by Putnam Investment Management, the Trust invests primarily in municipal securities issued by U.S. states, municipalities and their instrumentalities. Its strategy combines high-quality bonds with selectively chosen sectors in the municipal market to generate tax-advantaged income for shareholders.

The Trust's portfolio generally comprises general obligation bonds, revenue bonds and insured municipal securities, as well as unrated issues judged by its adviser to possess equivalent credit quality.

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