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

Putnam Managed Municipal Income Trust (NYSE:PMM) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 26,800 shares, a decline of 43.6% from the October 31st total of 47,500 shares. Based on an average daily volume of 102,600 shares, the days-to-cover ratio is currently 0.3 days.

Putnam Managed Municipal Income Trust Stock Up 2.4 %

Putnam Managed Municipal Income Trust stock traded up $0.15 during mid-day trading on Thursday, hitting $6.36. The company’s stock had a trading volume of 130,162 shares, compared to its average volume of 101,812. Putnam Managed Municipal Income Trust has a 52-week low of $5.68 and a 52-week high of $6.61. The firm’s 50 day moving average is $6.35 and its 200 day moving average is $6.27.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 22nd will be given a dividend of $0.0238 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.29 dividend on an annualized basis and a yield of 4.49%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $70,000. Wolverine Asset Management LLC raised its position in Putnam Managed Municipal Income Trust by 92.3% during the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after acquiring an additional 61,240 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Putnam Managed Municipal Income Trust in the third quarter worth approximately $25,000. Concurrent Investment Advisors LLC grew its position in Putnam Managed Municipal Income Trust by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after acquiring an additional 1,728 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock valued at $224,000 after purchasing an additional 6,000 shares in the last quarter. 13.54% of the stock is owned by institutional investors and hedge funds.

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.