Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Up 18.7% in January

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 38,700 shares, a growth of 18.7% from the January 15th total of 32,600 shares. Based on an average daily volume of 145,900 shares, the days-to-cover ratio is presently 0.3 days.

Insider Activity at Putnam Managed Municipal Income Trust

In other news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the company's stock in a transaction on Friday, January 10th. The shares were purchased at an average price of $6.02 per share, with a total value of $99,841.70. Following the purchase, the insider now directly owns 16,585 shares of the company's stock, valued at $99,841.70. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.01% of the stock is owned by insiders.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PMM. Sanctuary Advisors LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the 3rd quarter valued at approximately $70,000. International Assets Investment Management LLC increased its stake in shares of Putnam Managed Municipal Income Trust by 554.5% during the 3rd quarter. International Assets Investment Management LLC now owns 61,446 shares of the company's stock worth $400,000 after purchasing an additional 52,058 shares during the last quarter. Raymond James & Associates increased its stake in shares of Putnam Managed Municipal Income Trust by 7.5% during the 3rd quarter. Raymond James & Associates now owns 420,283 shares of the company's stock worth $2,736,000 after purchasing an additional 29,456 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Putnam Managed Municipal Income Trust by 6.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company's stock valued at $186,000 after purchasing an additional 1,728 shares during the period. Finally, Clear Creek Financial Management LLC lifted its stake in Putnam Managed Municipal Income Trust by 21.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company's stock valued at $224,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 13.54% of the company's stock.

Putnam Managed Municipal Income Trust Trading Down 0.1 %

NYSE:PMM traded down $0.01 during trading hours on Wednesday, reaching $6.35. 215,387 shares of the stock were exchanged, compared to its average volume of 154,837. Putnam Managed Municipal Income Trust has a twelve month low of $5.82 and a twelve month high of $6.61. The firm has a 50 day moving average of $6.15 and a 200 day moving average of $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 24th will be given a dividend of $0.0238 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.29 annualized dividend and a yield of 4.50%.

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.