Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Drops By 13.6%

Putnam Managed Municipal Income Trust (NYSE:PMM) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 23,600 shares, a decrease of 13.6% from the February 28th total of 27,300 shares. Based on an average daily trading volume, of 153,000 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Insider Activity at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was purchased at an average price 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 $99,841.70. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Avior Wealth Management LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 235.9% in the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock worth $25,000 after purchasing an additional 2,909 shares during the period. Virtu Financial LLC bought a new position in Putnam Managed Municipal Income Trust in the fourth quarter worth approximately $66,000. Sanctuary Advisors LLC purchased a new stake in Putnam Managed Municipal Income Trust during the third quarter worth $70,000. Wedbush Securities Inc. boosted its position in Putnam Managed Municipal Income Trust by 37.2% during the 4th quarter. Wedbush Securities Inc. now owns 14,007 shares of the company’s stock valued at $84,000 after acquiring an additional 3,800 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at $103,000. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Performance

PMM stock traded down $0.01 during midday trading on Thursday, reaching $6.16. The company’s stock had a trading volume of 89,917 shares, compared to its average volume of 113,672. Putnam Managed Municipal Income Trust has a 1 year low of $5.83 and a 1 year high of $6.61. The stock has a fifty day simple moving average of $6.22 and a two-hundred day simple moving average of $6.26.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.0238 per share. The ex-dividend date was Monday, March 17th. This represents a $0.29 annualized dividend and a yield of 4.64%.

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.