Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Down 13.8% in June

Putnam Managed Municipal Income Trust (NYSE:PMM) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 29,300 shares, a decline of 13.8% from the May 31st total of 34,000 shares. Based on an average daily volume of 99,000 shares, the days-to-cover ratio is presently 0.3 days.

Putnam Managed Municipal Income Trust Price Performance

PMM opened at $6.20 on Friday. Putnam Managed Municipal Income Trust has a 52 week low of $5.00 and a 52 week high of $6.42. The firm has a 50-day simple moving average of $6.03 and a two-hundred day simple moving average of $6.07.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 24th will be issued a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Monday, June 24th.

Institutional Trading of Putnam Managed Municipal Income Trust

Several hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Putnam Managed Municipal Income Trust during the first quarter valued at $91,000. B. Riley Wealth Advisors Inc. raised its position in shares of Putnam Managed Municipal Income Trust by 4.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 45,312 shares of the company’s stock valued at $249,000 after buying an additional 1,885 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Putnam Managed Municipal Income Trust by 31.6% in the 1st quarter. Advisors Asset Management Inc. now owns 535,084 shares of the company’s stock valued at $3,205,000 after acquiring an additional 128,455 shares during the last quarter. Robinson Capital Management LLC grew its position in Putnam Managed Municipal Income Trust by 4.9% in the first quarter. Robinson Capital Management LLC now owns 424,437 shares of the company’s stock worth $2,491,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in Putnam Managed Municipal Income Trust by 4.4% during the first quarter. Avantax Advisory Services Inc. now owns 54,365 shares of the company’s stock worth $326,000 after acquiring an additional 2,276 shares during the last quarter. 13.54% of the stock is owned by hedge funds and other institutional investors.

Putnam Managed Municipal Income Trust Company Profile

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.