Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Update

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 11,700 shares, a decrease of 69.8% from the January 31st total of 38,700 shares. Based on an average trading volume of 152,400 shares, the short-interest ratio is currently 0.1 days.

Putnam Managed Municipal Income Trust Stock Performance

PMM traded down $0.06 on Tuesday, reaching $6.26. The company had a trading volume of 158,459 shares, compared to its average volume of 147,116. The company has a fifty day moving average of $6.16 and a 200-day moving average of $6.29. Putnam Managed Municipal Income Trust has a one year low of $5.82 and a one year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 24th were given a $0.0238 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.56%.

Insider Transactions at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 16,585 shares of the company's stock, valued at approximately $99,841.70. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.01% of the company's stock.

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Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

A number of institutional investors and hedge funds have recently bought and sold shares of PMM. Raymond James Financial Inc. acquired a new stake in Putnam Managed Municipal Income Trust in the 4th quarter valued at about $2,720,000. Advisors Asset Management Inc. lifted its holdings in Putnam Managed Municipal Income Trust by 22.9% in the 4th quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company's stock valued at $4,761,000 after acquiring an additional 148,493 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Putnam Managed Municipal Income Trust by 20.4% in the 4th quarter. Guggenheim Capital LLC now owns 712,551 shares of the company's stock valued at $4,254,000 after acquiring an additional 120,948 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings 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 acquiring an additional 61,240 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in Putnam Managed Municipal Income Trust during the fourth quarter valued at about $350,000. 13.54% of the stock is owned by institutional investors and hedge funds.

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.