Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Grows By 133.3%

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) was the recipient of a significant 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. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 150,700 shares, the short-interest ratio is presently 0.2 days.

Putnam Managed Municipal Income Trust Price Performance

Shares of NYSE:PMM traded down $0.02 during midday trading on Monday, reaching $6.14. 109,802 shares of the company were exchanged, compared to its average volume of 113,347. The business's fifty day moving average is $6.20 and its two-hundred day moving average is $6.27. Putnam Managed Municipal Income Trust has a one year low of $5.83 and a one year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

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 issued a $0.0238 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.29 annualized dividend and a dividend yield of 4.65%.

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 on Friday, January 10th. The stock was acquired at an average cost of $6.02 per share, for a total transaction 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.01% of the company's stock.

Remove Ads

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Putnam Managed Municipal Income Trust in the 3rd quarter valued at about $70,000. Van ECK Associates Corp increased its position in Putnam Managed Municipal Income Trust by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 341,484 shares of the company's stock valued at $2,039,000 after acquiring an additional 11,828 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Putnam Managed Municipal Income Trust in the fourth quarter valued at $350,000. Noble Wealth Management PBC bought a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter worth about $104,000. Finally, Wedbush Securities Inc. boosted its stake in shares of 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 worth $84,000 after purchasing an additional 3,800 shares during the period. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

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.