Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Decreases By 13.8%

Putnam Managed Municipal Income Trust (NYSE:PMM) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 29,300 shares, a decline of 13.8% from the May 31st total of 34,000 shares. Based on an average daily trading volume, of 99,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Putnam Managed Municipal Income Trust

Several hedge funds have recently modified their holdings of the company. Fortitude Advisory Group L.L.C. boosted its stake in Putnam Managed Municipal Income Trust by 25.1% during the 4th quarter. Fortitude Advisory Group L.L.C. now owns 18,764 shares of the company’s stock worth $114,000 after acquiring an additional 3,766 shares during the last quarter. Spire Wealth Management bought a new position in shares of Putnam Managed Municipal Income Trust during the fourth quarter worth $107,000. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Putnam Managed Municipal Income Trust by 15.4% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 68,670 shares of the company’s stock valued at $418,000 after buying an additional 9,147 shares during the period. Van ECK Associates Corp grew its holdings in shares of Putnam Managed Municipal Income Trust by 13.1% in the 4th quarter. Van ECK Associates Corp now owns 335,394 shares of the company’s stock valued at $2,039,000 after buying an additional 38,916 shares during the period. Finally, HTLF Bank bought a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Down 0.8 %

Shares of NYSE:PMM traded down $0.05 on Monday, hitting $6.15. The stock had a trading volume of 79,119 shares, compared to its average volume of 105,684. The firm’s 50 day moving average price is $6.03 and its 200-day moving average price is $6.08. Putnam Managed Municipal Income Trust has a twelve month low of $5.00 and a twelve month high of $6.42.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 24th will be given a $0.0238 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.64%.

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.