Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Decreases By 69.8%

Putnam Managed Municipal Income Trust (NYSE:PMM) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 11,700 shares, a decline of 69.8% from the January 31st total of 38,700 shares. Based on an average daily volume of 152,400 shares, the days-to-cover ratio is presently 0.1 days.

Insider Transactions 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 firm’s 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 transaction, the insider now owns 16,585 shares in the company, valued at approximately $99,841.70. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PMM. Ashton Thomas Securities LLC acquired a new position in Putnam Managed Municipal Income Trust in the third quarter valued at about $25,000. Avior Wealth Management LLC boosted its position in 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 buying an additional 2,909 shares in the last quarter. Virtu Financial LLC acquired a new position in Putnam Managed Municipal Income Trust in the fourth quarter valued at about $66,000. Sanctuary Advisors LLC acquired a new position in Putnam Managed Municipal Income Trust in the third quarter valued at about $70,000. Finally, Wedbush Securities Inc. boosted its position in Putnam Managed Municipal Income Trust by 37.2% in the fourth quarter. Wedbush Securities Inc. now owns 14,007 shares of the company’s stock valued at $84,000 after buying an additional 3,800 shares in the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Price Performance

Shares of Putnam Managed Municipal Income Trust stock traded up $0.01 during trading on Friday, hitting $6.29. 218,614 shares of the company’s stock traded hands, compared to its average volume of 147,744. Putnam Managed Municipal Income Trust has a twelve month low of $5.82 and a twelve month high of $6.61. The firm’s fifty day moving average price is $6.16 and its 200 day moving average price is $6.29.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 24th will be given a $0.0238 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.54%.

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.