Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Up 133.3% in February

Putnam Managed Municipal Income Trust (NYSE:PMM) was the recipient of a significant increase in short interest in 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. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 150,700 shares, the short-interest ratio is currently 0.2 days.

Putnam Managed Municipal Income Trust Price Performance

PMM opened at $6.18 on Friday. The business’s 50-day moving average price is $6.20 and its two-hundred day moving average price is $6.27. Putnam Managed Municipal Income Trust has a 1 year low of $5.82 and a 1 year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

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

Insiders Place Their Bets

In other news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the company’s stock in a transaction on Friday, January 10th. The shares were purchased at an average price of $6.02 per share, with a total value of $99,841.70. Following the purchase, the insider now directly owns 16,585 shares of the company’s stock, valued at $99,841.70. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.01% of the company’s stock.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PMM. Ashton Thomas Securities LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at about $25,000. Sanctuary Advisors LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at about $70,000. Avior Wealth Management LLC increased its position in shares of Putnam Managed Municipal Income Trust by 235.9% in the fourth quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after acquiring an additional 2,909 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Putnam Managed Municipal Income Trust by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 341,484 shares of the company’s stock valued at $2,039,000 after acquiring an additional 11,828 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Putnam Managed Municipal Income Trust in the fourth quarter valued at about $350,000. Institutional investors and hedge funds own 13.54% of the company’s stock.

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.