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

Putnam Managed (NYSE:PMM) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 113,037 shares, an increase of 82.9% from the June 30th total of 61,814 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 89,198 shares, the days-to-cover ratio is currently 1.3 days.

Putnam Managed Stock Performance

Shares of NYSE:PMM traded down $0.02 during trading on Friday, reaching $6.25. The stock had a trading volume of 231,708 shares, compared to its average volume of 79,473. Putnam Managed has a 52 week low of $5.77 and a 52 week high of $6.60. The business’s 50-day moving average price is $6.37 and its 200 day moving average price is $6.29.

Putnam Managed Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a $0.033 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 6.3%.

Institutional Trading of Putnam Managed

Several large investors have recently made changes to their positions in PMM. Rivernorth Capital Management LLC bought a new position in Putnam Managed in the 4th quarter valued at $1,722,000. Advisors Asset Management Inc. raised its stake in shares of Putnam Managed by 29.9% during the fourth quarter. Advisors Asset Management Inc. now owns 867,048 shares of the company’s stock worth $5,436,000 after buying an additional 199,831 shares during the last quarter. &PARTNERS acquired a new position in Putnam Managed in the fourth quarter valued at approximately $750,000. G2 Capital Management LLC OH bought a new position in Putnam Managed in the fourth quarter valued at approximately $673,000. Finally, Invesco Ltd. boosted its stake in Putnam Managed by 55.0% in the second quarter. Invesco Ltd. now owns 261,413 shares of the company’s stock valued at $1,563,000 after acquiring an additional 92,727 shares during the last quarter. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Company Profile

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.