Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Down 69.8% in February

Putnam Managed Municipal Income Trust (NYSE:PMM) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 11,700 shares, a drop of 69.8% from the January 31st total of 38,700 shares. Based on an average daily volume of 152,400 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity at Putnam Managed Municipal Income Trust

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were purchased at an average price of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the purchase, the insider now directly owns 16,585 shares of the company’s stock, valued at $99,841.70. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Putnam Managed Municipal Income Trust during the 4th quarter valued at approximately $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 valued at $4,761,000 after purchasing an additional 148,493 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of 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 purchasing an additional 120,948 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Putnam Managed Municipal Income Trust by 92.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after buying an additional 61,240 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Putnam Managed Municipal Income Trust during the fourth quarter valued at approximately $350,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM stock traded up $0.01 on Friday, hitting $6.29. The company had a trading volume of 179,359 shares, compared to its average volume of 146,470. The company has a 50-day moving average price of $6.15 and a 200-day moving average price of $6.29. Putnam Managed Municipal Income Trust has a twelve month low of $5.82 and a twelve month 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 3rd. Investors of record on Monday, February 24th will be paid a $0.0238 dividend. This represents a $0.29 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Monday, February 24th.

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.