Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Grows By 18.7%

Putnam Managed Municipal Income Trust (NYSE:PMM) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 38,700 shares, a growth of 18.7% from the January 15th total of 32,600 shares. Based on an average daily volume of 145,900 shares, the days-to-cover ratio is presently 0.3 days.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM stock traded up $0.17 during trading hours on Monday, hitting $6.37. The stock had a trading volume of 324,363 shares, compared to its average volume of 137,977. Putnam Managed Municipal Income Trust has a twelve month low of $5.82 and a twelve month high of $6.61. The stock’s 50 day moving average is $6.15 and its 200 day moving average is $6.29.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 24th will be issued a $0.0238 dividend. This represents a $0.29 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, February 24th.

Insider Activity at Putnam Managed Municipal Income Trust

In other news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was acquired at an average cost of $6.02 per share, with a total value of $99,841.70. Following the completion of the acquisition, the insider now owns 16,585 shares of the company’s stock, valued at $99,841.70. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Several hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its holdings 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 worth $4,761,000 after purchasing an additional 148,493 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Putnam Managed Municipal Income Trust by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 712,659 shares of the company’s stock worth $4,255,000 after purchasing an additional 43,540 shares during the period. Guggenheim Capital LLC lifted its holdings 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 worth $4,254,000 after purchasing an additional 120,948 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Putnam Managed Municipal Income Trust during the fourth quarter worth $2,720,000. Finally, Raymond James & Associates lifted its holdings in shares of Putnam Managed Municipal Income Trust by 7.5% during the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock worth $2,736,000 after purchasing an additional 29,456 shares during the period. 13.54% of the stock is owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Company Profile

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.