Putnam Managed Municipal Income Trust (NYSE:PMM) Sees Large Growth in Short Interest

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 141,800 shares, a growth of 500.8% from the March 15th total of 23,600 shares. Based on an average trading volume of 145,700 shares, the short-interest ratio is currently 1.0 days. Currently, 0.3% of the shares of the stock are short sold.

Putnam Managed Municipal Income Trust Stock Performance

PMM traded up $0.02 during midday trading on Friday, hitting $5.86. 95,454 shares of the company traded hands, compared to its average volume of 116,537. The business has a 50 day simple moving average of $6.14 and a two-hundred day simple moving average of $6.20. Putnam Managed Municipal Income Trust has a 52-week low of $5.66 and a 52-week high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 18th will be paid a $0.0238 dividend. This represents a yield of 4.88%. The ex-dividend date is Thursday, April 17th.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Large investors have recently bought and sold shares of the company. Avior Wealth Management LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 235.9% in the fourth quarter. Avior Wealth Management LLC now owns 4,142 shares of the company's stock valued at $25,000 after acquiring an additional 2,909 shares in the last quarter. Virtu Financial LLC purchased a new position in Putnam Managed Municipal Income Trust in the 4th quarter valued at $66,000. Sanctuary Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust during the 3rd quarter worth $70,000. Wedbush Securities Inc. grew its holdings in shares of Putnam Managed Municipal Income Trust by 37.2% during the fourth quarter. Wedbush Securities Inc. now owns 14,007 shares of the company's stock worth $84,000 after buying an additional 3,800 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Putnam Managed Municipal Income Trust in the fourth quarter valued at about $103,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

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.