Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Up 133.3% in February

Putnam Managed Municipal Income Trust (NYSE:PMM) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 27,300 shares, an increase of 133.3% from the February 13th total of 11,700 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 150,700 shares, the short-interest ratio is presently 0.2 days.

Putnam Managed Municipal Income Trust Price Performance

NYSE PMM opened at $6.18 on Friday. The stock has a fifty day moving average of $6.20 and a 200-day moving average of $6.27. 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 company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.0238 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.29 annualized dividend and a dividend yield of 4.63%.

Insider Transactions at Putnam Managed Municipal Income Trust

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of $6.02 per share, with a total value of $99,841.70. Following the acquisition, the insider now directly owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in PMM. Raymond James Financial Inc. bought a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter worth $2,720,000. Advisors Asset Management Inc. lifted its holdings in Putnam Managed Municipal Income Trust by 22.9% during the fourth quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company’s stock worth $4,761,000 after acquiring an additional 148,493 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in Putnam Managed Municipal Income Trust by 20.4% during the fourth 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 in the last quarter. Oppenheimer & Co. Inc. bought a new position in Putnam Managed Municipal Income Trust during the fourth quarter worth about $350,000. Finally, Invesco Ltd. lifted its holdings in Putnam Managed Municipal Income Trust by 132.0% during the fourth quarter. Invesco Ltd. now owns 98,495 shares of the company’s stock worth $588,000 after acquiring an additional 56,041 shares in the last quarter. 13.54% of the stock is owned by institutional investors and hedge funds.

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.