Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Update

Putnam Managed Municipal Income Trust (NYSE:PMM) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 141,800 shares, a growth of 500.8% from the March 15th total of 23,600 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 145,700 shares, the short-interest ratio is currently 1.0 days.

Putnam Managed Municipal Income Trust Price Performance

PMM stock remained flat at $5.85 during trading on Wednesday. The company had a trading volume of 147,490 shares, compared to its average volume of 115,931. The company has a fifty day simple moving average of $6.16 and a 200-day simple moving average of $6.21. Putnam Managed Municipal Income Trust has a 1 year low of $5.66 and a 1 year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 18th will be given a dividend of $0.0238 per share. This represents a yield of 4.88%. The ex-dividend date of this dividend is Thursday, April 17th.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of large investors have recently made changes to their positions in PMM. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Putnam Managed Municipal Income Trust during the 1st quarter worth about $1,587,000. Nomura Holdings Inc. boosted its position in shares of Putnam Managed Municipal Income Trust by 246.8% in the fourth quarter. Nomura Holdings Inc. now owns 51,000 shares of the company’s stock worth $304,000 after buying an additional 36,295 shares during the period. Logan Stone Capital LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the fourth quarter valued at about $245,000. Jane Street Group LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust during the 4th quarter valued at about $203,000. Finally, Guggenheim Capital LLC boosted its holdings in Putnam Managed Municipal Income Trust by 20.4% in the 4th quarter. Guggenheim Capital LLC now owns 712,551 shares of the company’s stock worth $4,254,000 after acquiring an additional 120,948 shares during the period. Institutional investors and hedge funds own 13.54% of the company’s stock.

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.