Putnam Managed Municipal Income Trust (NYSE:PMM) Sees Significant Drop in Short Interest

Putnam Managed Municipal Income Trust (NYSE:PMM) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 29,300 shares, a decline of 13.8% from the May 31st total of 34,000 shares. Based on an average trading volume of 99,000 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of Putnam Managed Municipal Income Trust

Large investors have recently made changes to their positions in the company. Nomura Holdings Inc. bought a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at $63,000. HTLF Bank acquired a new position in Putnam Managed Municipal Income Trust in the 4th quarter worth $68,000. Gilliland Jeter Wealth Management LLC acquired a new position in Putnam Managed Municipal Income Trust in the 4th quarter worth $71,000. Kestra Private Wealth Services LLC boosted its stake in Putnam Managed Municipal Income Trust by 17.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 13,244 shares of the company’s stock worth $81,000 after purchasing an additional 1,944 shares during the period. Finally, Clear Creek Financial Management LLC acquired a new position in Putnam Managed Municipal Income Trust in the 4th quarter worth $87,000. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Performance

Shares of Putnam Managed Municipal Income Trust stock traded up $0.01 on Tuesday, hitting $6.16. 132,538 shares of the company’s stock traded hands, compared to its average volume of 105,897. The firm’s 50-day moving average price is $6.03 and its two-hundred day moving average price is $6.08. Putnam Managed Municipal Income Trust has a one year low of $5.00 and a one year high of $6.42.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 24th will be given a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Wednesday, July 24th.

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.