Putnam Managed (NYSE:PMM) Short Interest Down 45.7% in March
by Jessica Moore · The Cerbat GemPutnam Managed (NYSE:PMM – Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 38,745 shares, a decline of 45.7% from the March 15th total of 71,396 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 93,077 shares, the days-to-cover ratio is presently 0.4 days.
Putnam Managed Trading Down 0.2%
Shares of NYSE:PMM traded down $0.01 during trading on Wednesday, reaching $6.24. The stock had a trading volume of 75,847 shares, compared to its average volume of 104,958. Putnam Managed has a 52 week low of $5.70 and a 52 week high of $6.52. The stock has a fifty day simple moving average of $6.26 and a two-hundred day simple moving average of $6.19.
Putnam Managed Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a dividend of $0.0265 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 5.1%.
Institutional Investors Weigh In On Putnam Managed
A number of institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its stake in Putnam Managed by 1.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,111,767 shares of the company’s stock worth $6,971,000 after buying an additional 15,203 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Putnam Managed by 78.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,009,350 shares of the company’s stock valued at $6,329,000 after purchasing an additional 444,374 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Putnam Managed by 29.9% in the 4th quarter. Advisors Asset Management Inc. now owns 867,048 shares of the company’s stock valued at $5,436,000 after purchasing an additional 199,831 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Putnam Managed by 4.1% in the 3rd quarter. Raymond James Financial Inc. now owns 548,110 shares of the company’s stock valued at $3,311,000 after purchasing an additional 21,509 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Putnam Managed by 23.1% in the 4th quarter. Invesco Ltd. now owns 417,901 shares of the company’s stock valued at $2,620,000 after purchasing an additional 78,533 shares in the last quarter. Institutional investors and hedge funds own 13.54% of the company’s stock.
Putnam Managed Company Profile
Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.
Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.