Putnam Managed Municipal Income Trust (NYSE:PMM) Sees Large Drop in Short Interest

Putnam Managed Municipal Income Trust (NYSE:PMM) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 11,700 shares, a decrease of 69.8% from the January 31st total of 38,700 shares. Based on an average daily trading volume, of 152,400 shares, the short-interest ratio is presently 0.1 days.

Insider Activity

In related news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the acquisition, the insider now owns 16,585 shares in the company, valued at $99,841.70. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.01% of the company’s stock.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Putnam Managed Municipal Income Trust in the third quarter valued at approximately $25,000. Avior Wealth Management LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 235.9% in the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after purchasing an additional 2,909 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at $66,000. Sanctuary Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter worth $70,000. Finally, Wedbush Securities Inc. increased its position in shares of Putnam Managed Municipal Income Trust by 37.2% during the 4th quarter. Wedbush Securities Inc. now owns 14,007 shares of the company’s stock worth $84,000 after purchasing an additional 3,800 shares during the last quarter. Institutional investors and hedge funds own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Up 0.2 %

Shares of PMM traded up $0.01 during midday trading on Friday, reaching $6.29. The company had a trading volume of 179,359 shares, compared to its average volume of 146,470. Putnam Managed Municipal Income Trust has a 1-year low of $5.82 and a 1-year high of $6.61. The firm has a 50 day simple moving average of $6.15 and a 200-day simple moving average of $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 24th will be paid a $0.0238 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.29 annualized dividend and a dividend yield of 4.54%.

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.