Putnam Managed Municipal Income Trust (NYSE:PMM – Get Free Report) 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
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.
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