Putnam Managed (NYSE:PMM) Sees Large Decline in Short Interest

Putnam Managed (NYSE:PMM) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 20,168 shares, a decrease of 69.4% from the May 31st total of 65,881 shares. Based on an average daily volume of 91,067 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Putnam Managed Stock Performance

NYSE PMM traded up $0.04 during trading hours on Friday, hitting $6.39. 150,805 shares of the company’s stock traded hands, compared to its average volume of 81,328. The business’s fifty day moving average price is $6.25 and its two-hundred day moving average price is $6.24. Putnam Managed has a 52 week low of $5.77 and a 52 week high of $6.52.

Putnam Managed Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a dividend of $0.033 per share. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Monday, August 24th.

Institutional Investors Weigh In On Putnam Managed

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in Putnam Managed by 41.1% during the first quarter. NewEdge Advisors LLC now owns 34,381 shares of the company’s stock valued at $211,000 after purchasing an additional 10,014 shares in the last quarter. Invesco Ltd. increased its position in Putnam Managed by 55.0% in the second quarter. Invesco Ltd. now owns 261,413 shares of the company’s stock worth $1,563,000 after buying an additional 92,727 shares in the last quarter. Raymond James Financial Inc. increased its position in Putnam Managed by 11.8% in the second quarter. Raymond James Financial Inc. now owns 526,601 shares of the company’s stock worth $3,149,000 after buying an additional 55,674 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Putnam Managed by 48.1% in the second quarter. Bank of America Corp DE now owns 125,252 shares of the company’s stock worth $749,000 after buying an additional 40,699 shares during the period. Finally, Nomura Holdings Inc. bought a new position in shares of Putnam Managed in the second quarter worth about $60,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Company Profile

Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.

Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.