Hi Irakli,
Here is a list of all the possible meanings of this Chinese character:
1. the fifth of the twelve Earthly Branches which in combination with the Heavenly Stems were used by the ancients to designate years, months, and days
2. 5th earthly branch; 7-9 a.m.
3. early morning
The character is correctly written (no mistakes at all), and there is not really an other meaning that would risk negative interpretation. Furthermore, the placement you mentioned should not lead to any misunderstandings.
