Putnam Mun Oppo (NYSE:PMO) Short Interest Up 78.4% in June

Putnam Mun Oppo (NYSE:PMO) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 23,288 shares, an increase of 78.4% from the May 31st total of 13,055 shares. Based on an average daily volume of 48,658 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Putnam Mun Oppo

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Putnam Mun Oppo by 16.6% during the 1st quarter. Royal Bank of Canada now owns 22,246 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 3,162 shares in the last quarter. Invesco Ltd. lifted its stake in Putnam Mun Oppo by 228.4% during the second quarter. Invesco Ltd. now owns 78,733 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 54,761 shares during the last quarter. Karpus Management Inc. lifted its stake in Putnam Mun Oppo by 133.0% during the second quarter. Karpus Management Inc. now owns 231,992 shares of the financial services provider’s stock worth $2,294,000 after purchasing an additional 132,444 shares during the last quarter. Bank of America Corp DE boosted its holdings in Putnam Mun Oppo by 20.6% in the second quarter. Bank of America Corp DE now owns 152,349 shares of the financial services provider’s stock valued at $1,507,000 after purchasing an additional 26,015 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Putnam Mun Oppo in the second quarter valued at approximately $99,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Putnam Mun Oppo Trading Down 0.0%

Shares of PMO opened at $10.72 on Friday. The stock has a 50-day simple moving average of $10.48 and a 200-day simple moving average of $10.52. Putnam Mun Oppo has a 1 year low of $9.71 and a 1 year high of $10.87.

Putnam Mun Oppo Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a dividend of $0.033 per share. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, August 24th.

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.