Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Up 18.7% in January

Putnam Managed Municipal Income Trust (NYSE:PMM) was the recipient of a significant growth in short interest during the month of 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 trading volume, of 145,900 shares, the days-to-cover ratio is presently 0.3 days.

Insider Activity at Putnam Managed Municipal Income Trust

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the stock in a transaction dated Friday, January 10th. The shares were acquired at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the transaction, the insider now owns 16,585 shares in the company, valued at approximately $99,841.70. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

Several institutional investors have recently bought and sold shares of the company. Raymond James & Associates increased its holdings 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 in the last quarter. International Assets Investment Management LLC increased its holdings in Putnam Managed Municipal Income Trust by 554.5% in the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock valued at $400,000 after buying an additional 52,058 shares in the last quarter. Ackerman Capital Advisors LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at approximately $70,000. Clear Creek Financial Management LLC boosted its stake in shares of Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of Putnam Managed Municipal Income Trust by 6.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after acquiring an additional 1,728 shares during the period. 13.54% of the stock is owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Stock Performance

PMM stock traded up $0.17 during trading on Monday, hitting $6.37. The company had a trading volume of 324,363 shares, compared to its average volume of 137,977. Putnam Managed Municipal Income Trust has a 1-year low of $5.82 and a 1-year high of $6.61. The firm has a 50-day moving average price of $6.15 and a 200-day moving average price of $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

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

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.