Putnam Managed (NYSE:PMM) Sees Large Decrease in Short Interest

Putnam Managed (NYSE:PMM) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 20,168 shares, a decrease of 69.4% from the May 31st total of 65,881 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 91,067 shares, the days-to-cover ratio is currently 0.2 days.

Putnam Managed Stock Up 0.4%

PMM traded up $0.03 on Tuesday, reaching $6.49. The stock had a trading volume of 105,270 shares, compared to its average volume of 103,087. The business’s 50-day moving average price is $6.25 and its two-hundred day moving average price is $6.24. Putnam Managed has a 12-month low of $5.77 and a 12-month high of $6.52.

Putnam Managed Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.033 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 6.1%.

Hedge Funds Weigh In On Putnam Managed

Several institutional investors and hedge funds have recently bought and sold shares of the company. G2 Capital Management LLC OH acquired a new position in Putnam Managed during the fourth quarter worth $673,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Putnam Managed by 78.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,009,350 shares of the company’s stock valued at $6,329,000 after buying an additional 444,374 shares in the last quarter. WealthBridge Capital Management LLC raised its stake in shares of Putnam Managed by 9.5% during the 4th quarter. WealthBridge Capital Management LLC now owns 34,000 shares of the company’s stock worth $213,000 after buying an additional 2,950 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Putnam Managed by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 280,580 shares of the company’s stock worth $1,695,000 after buying an additional 4,283 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in Putnam Managed by 58.9% during the 4th quarter. LPL Financial LLC now owns 188,605 shares of the company’s stock valued at $1,183,000 after acquiring an additional 69,898 shares in the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

About Putnam Managed

Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.

Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.