Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Grows By 18.7%

Putnam Managed Municipal Income Trust (NYSE:PMM) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 38,700 shares, an increase of 18.7% from the January 15th total of 32,600 shares. Based on an average daily trading volume, of 145,900 shares, the short-interest ratio is currently 0.3 days.

Putnam Managed Municipal Income Trust Stock Up 2.7 %

NYSE:PMM traded up $0.17 on Monday, reaching $6.37. 324,363 shares of the company’s stock were exchanged, compared to its average volume of 137,977. The business has a fifty day moving average of $6.15 and a 200-day moving average of $6.29. Putnam Managed Municipal Income Trust has a 52-week low of $5.82 and a 52-week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 24th will be paid a dividend of $0.0238 per share. The ex-dividend date is Monday, February 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.48%.

Insider Activity at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction that occurred on Friday, January 10th. The shares were purchased at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following 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 filing with the SEC, which is available at this hyperlink. 0.01% of the stock is owned by insiders.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates increased its stake in shares of Putnam Managed Municipal Income Trust by 7.5% during the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock worth $2,736,000 after buying an additional 29,456 shares during the period. International Assets Investment Management LLC increased its stake in shares of Putnam Managed Municipal Income Trust by 554.5% during the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock worth $400,000 after buying an additional 52,058 shares during the period. Ackerman Capital Advisors LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust during the third quarter worth approximately $70,000. Clear Creek Financial Management LLC increased its stake in shares of Putnam Managed Municipal Income Trust by 21.2% during the third quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after buying an additional 6,000 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Putnam Managed Municipal Income Trust by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after buying an additional 1,728 shares during the period. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

About Putnam Managed Municipal Income Trust

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.