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

Putnam Managed Municipal Income Trust (NYSE:PMM) saw a large increase in short interest in the month of 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. Based on an average daily volume of 150,700 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Putnam Managed Municipal Income Trust Trading Up 0.6 %

Shares of PMM traded up $0.04 during trading hours on Friday, hitting $6.18. The stock had a trading volume of 137,610 shares, compared to its average volume of 138,939. The company’s fifty day simple moving average is $6.20 and its 200 day simple moving average is $6.28. Putnam Managed Municipal Income Trust has a 12-month low of $5.82 and a 12-month high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.0238 dividend. This represents a $0.29 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, March 17th.

Insiders Place Their Bets

In other news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average cost of $6.02 per share, with a total value of $99,841.70. Following the transaction, the insider now owns 16,585 shares of the company’s stock, valued at $99,841.70. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.01% of the company’s stock.

Institutional Trading of Putnam Managed Municipal Income Trust

Several large investors have recently added to or reduced their stakes in PMM. Raymond James Financial Inc. acquired a new stake in Putnam Managed Municipal Income Trust in the 4th quarter valued at $2,720,000. Advisors Asset Management Inc. grew its stake in shares of Putnam Managed Municipal Income Trust by 22.9% during the fourth 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 in the last quarter. Guggenheim Capital LLC grew its stake in shares of Putnam Managed Municipal Income Trust by 20.4% during the fourth 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 in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Putnam Managed Municipal Income Trust during the fourth quarter valued at about $350,000. Finally, Invesco Ltd. grew its stake in shares of Putnam Managed Municipal Income Trust by 132.0% during the fourth quarter. Invesco Ltd. now owns 98,495 shares of the company’s stock valued at $588,000 after acquiring an additional 56,041 shares in the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

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.