Putnam Managed (NYSE:PMM) Short Interest Up 24.7% in December

Putnam Managed (NYSE:PMM) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 36,990 shares, a growth of 24.7% from the December 15th total of 29,660 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 150,490 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 150,490 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PMM. Hennion & Walsh Asset Management Inc. grew its holdings in Putnam Managed by 78.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,009,350 shares of the company’s stock worth $6,329,000 after acquiring an additional 444,374 shares during the period. Guggenheim Capital LLC boosted its position in Putnam Managed by 10.2% in the 2nd quarter. Guggenheim Capital LLC now owns 997,567 shares of the company’s stock worth $5,965,000 after purchasing an additional 91,933 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Putnam Managed by 4.1% during the 3rd quarter. Raymond James Financial Inc. now owns 548,110 shares of the company’s stock worth $3,311,000 after purchasing an additional 21,509 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Putnam Managed by 36.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 307,887 shares of the company’s stock valued at $1,843,000 after purchasing an additional 82,224 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Putnam Managed by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 280,580 shares of the company’s stock valued at $1,695,000 after purchasing an additional 4,283 shares during the period. 13.54% of the stock is owned by institutional investors and hedge funds.

Putnam Managed Stock Up 0.2%

NYSE:PMM traded up $0.02 during trading hours on Monday, hitting $6.27. 125,570 shares of the company were exchanged, compared to its average volume of 90,714. Putnam Managed has a 52-week low of $5.66 and a 52-week high of $6.44. The company’s 50 day moving average price is $6.18 and its 200-day moving average price is $6.05.

Putnam Managed Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be paid a $0.0265 dividend. The ex-dividend date is Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 5.1%.

About Putnam Managed

Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.

Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.