Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Update

by · The Markets Daily

Putnam Managed Municipal Income Trust (NYSE:PMM – Get Free Report) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 23,600 shares, a drop of 13.6% from the February 28th total of 27,300 shares. Based on an average daily volume of 153,000 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Putnam Managed Municipal Income Trust Stock Down 0.6 %

PMM traded down $0.04 on Wednesday, reaching $6.16. The company had a trading volume of 34,713 shares, compared to its average volume of 113,385. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.83 and a fifty-two week high of $6.61. The company’s fifty day moving average is $6.23 and its 200 day moving average is $6.26.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend was Monday, March 17th.

Insider Activity at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were bought at an average cost of $6.02 per share, with a total value of $99,841.70. Following the completion of the transaction, the insider now directly owns 16,585 shares of the company’s stock, valued at $99,841.70. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.01% of the stock is currently owned by company insiders.

Institutional Trading of Putnam Managed Municipal Income Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its position in shares of Putnam Managed Municipal Income Trust by 22.9% in the fourth quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company’s stock worth $4,761,000 after purchasing an additional 148,493 shares during the period. Wells Fargo & Company MN grew its stake in Putnam Managed Municipal Income Trust by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 712,659 shares of the company’s stock worth $4,255,000 after buying an additional 43,540 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Putnam Managed Municipal Income Trust by 20.4% in the 4th quarter. Guggenheim Capital LLC now owns 712,551 shares of the company’s stock valued at $4,254,000 after buying an additional 120,948 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at approximately $2,720,000. Finally, Van ECK Associates Corp lifted its stake in Putnam Managed Municipal Income Trust by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 341,484 shares of the company’s stock worth $2,039,000 after purchasing an additional 11,828 shares during the last quarter. Institutional investors and hedge funds own 13.54% of the company’s stock.

About Putnam Managed Municipal Income Trust

(Get Free Report)

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investment grade.

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