Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Update

Putnam Managed Municipal Income Trust (NYSE:PMM) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 26,800 shares, a drop of 43.6% from the October 31st total of 47,500 shares. Based on an average daily trading volume, of 102,600 shares, the short-interest ratio is currently 0.3 days.

Putnam Managed Municipal Income Trust Trading Up 2.4 %

PMM traded up $0.15 on Thursday, hitting $6.36. 130,162 shares of the stock traded hands, compared to its average volume of 101,812. The business has a fifty day moving average price of $6.35 and a two-hundred day moving average price of $6.27. Putnam Managed Municipal Income Trust has a 52 week low of $5.68 and a 52 week high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 22nd will be paid a $0.0238 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.49%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the 2nd quarter worth about $1,569,000. Wolverine Asset Management LLC raised its position in Putnam Managed Municipal Income Trust by 92.3% in the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock worth $831,000 after purchasing an additional 61,240 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Putnam Managed Municipal Income Trust by 554.5% during the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock worth $400,000 after purchasing an additional 52,058 shares during the period. Van ECK Associates Corp boosted its holdings in Putnam Managed Municipal Income Trust by 14.7% during the second quarter. Van ECK Associates Corp now owns 333,409 shares of the company’s stock valued at $2,067,000 after purchasing an additional 42,667 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of Putnam Managed Municipal Income Trust by 7.5% in the 3rd quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock valued at $2,736,000 after purchasing an additional 29,456 shares during the period. 13.54% of the stock is owned by institutional investors.

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.