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

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

Putnam Managed Municipal Income Trust Stock Performance

NYSE PMM traded up $0.03 during trading on Monday, hitting $5.88. The stock had a trading volume of 200,719 shares, compared to its average volume of 115,465. The firm has a 50 day moving average price of $6.16 and a 200 day moving average price of $6.21. Putnam Managed Municipal Income Trust has a twelve month low of $5.66 and a twelve month high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, March 17th.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust during the third quarter worth $70,000. Avior Wealth Management LLC raised its position in Putnam Managed Municipal Income Trust by 235.9% in the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after purchasing an additional 2,909 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Putnam Managed Municipal Income Trust by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 341,484 shares of the company’s stock valued at $2,039,000 after buying an additional 11,828 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at about $350,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Putnam Managed Municipal Income Trust during the fourth quarter worth approximately $104,000. 13.54% of the stock is currently owned by institutional investors and hedge funds.

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.