Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Up 133.3% in February

Putnam Managed Municipal Income Trust (NYSE:PMM) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 27,300 shares, an increase of 133.3% from the February 13th total of 11,700 shares. Based on an average daily volume of 150,700 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Insider Buying and Selling

In related news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction on Friday, January 10th. The shares were purchased at an average price of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the acquisition, the insider now owns 16,585 shares in the company, valued at approximately $99,841.70. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

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

Putnam Managed Municipal Income Trust Trading Down 0.8 %

NYSE:PMM opened at $6.14 on Friday. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.82 and a fifty-two week high of $6.61. The business’s 50-day simple moving average is $6.20 and its 200-day simple moving average is $6.28.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Monday, March 17th.

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.