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

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

Putnam Mun Oppo Price Performance

Shares of PMO stock traded down $0.02 during trading hours on Friday, hitting $10.35. 100,835 shares of the company’s stock traded hands, compared to its average volume of 61,813. The stock’s fifty day simple moving average is $10.46 and its two-hundred day simple moving average is $10.49. Putnam Mun Oppo has a 12-month low of $9.70 and a 12-month high of $10.87.

Putnam Mun Oppo Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.0393 per share. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Thursday, May 21st.

Hedge Funds Weigh In On Putnam Mun Oppo

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its position in shares of Putnam Mun Oppo by 36.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 420,550 shares of the financial services provider’s stock worth $4,344,000 after purchasing an additional 113,434 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Putnam Mun Oppo by 15.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 518,691 shares of the financial services provider’s stock worth $5,550,000 after purchasing an additional 70,735 shares during the last quarter. Smith Moore & CO. raised its position in shares of Putnam Mun Oppo by 60.6% in the 3rd quarter. Smith Moore & CO. now owns 125,303 shares of the financial services provider’s stock worth $1,294,000 after purchasing an additional 47,300 shares during the last quarter. Riverbridge Partners LLC raised its position in shares of Putnam Mun Oppo by 53.5% in the 4th quarter. Riverbridge Partners LLC now owns 118,230 shares of the financial services provider’s stock worth $1,265,000 after purchasing an additional 41,190 shares during the last quarter. Finally, Westview Management dba Westview Investment Advisors purchased a new position in shares of Putnam Mun Oppo in the 4th quarter worth about $164,000. 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.