Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Grows By 500.8%

Putnam Managed Municipal Income Trust (NYSE:PMM) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 141,800 shares, an increase of 500.8% from the March 15th total of 23,600 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 145,700 shares, the short-interest ratio is currently 1.0 days.

Putnam Managed Municipal Income Trust Price Performance

PMM stock remained flat at $5.85 during mid-day trading on Wednesday. 147,490 shares of the company’s stock traded hands, compared to its average volume of 115,931. The stock’s fifty day moving average is $6.16 and its two-hundred day moving average is $6.21. Putnam Managed Municipal Income Trust has a 52 week low of $5.66 and a 52 week high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.0238 per share. This represents a dividend yield of 4.88%. The ex-dividend date is Thursday, April 17th.

Institutional Trading of Putnam Managed Municipal Income Trust

Several hedge funds have recently added to or reduced their stakes in PMM. Raymond James Financial Inc. acquired a new position in Putnam Managed Municipal Income Trust during the fourth quarter worth about $2,720,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Putnam Managed Municipal Income Trust in the first quarter worth $1,587,000. Advisors Asset Management Inc. grew its stake in Putnam Managed Municipal Income Trust by 22.9% during the 4th 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 increased its stake in Putnam Managed Municipal Income Trust by 20.4% in the 4th quarter. Guggenheim Capital LLC now owns 712,551 shares of the company’s stock valued at $4,254,000 after buying an additional 120,948 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in Putnam Managed Municipal Income Trust during the fourth quarter valued at $350,000. Institutional investors 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.