Putnam Managed Municipal Income Trust (NYSE:PMM) Sees Large Decrease in Short Interest

Putnam Managed Municipal Income Trust (NYSE:PMM) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 31,400 shares, a drop of 52.0% from the September 15th total of 65,400 shares. Based on an average daily volume of 103,200 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds have recently added to or reduced their stakes in PMM. International Assets Investment Management LLC purchased a new position in Putnam Managed Municipal Income Trust in the 2nd quarter worth approximately $58,000. Nomura Holdings Inc. purchased a new stake in Putnam Managed Municipal Income Trust during the 4th quarter valued at $63,000. Arbor Trust Wealth Advisors LLC purchased a new stake in Putnam Managed Municipal Income Trust during the 2nd quarter valued at $81,000. Virtu Financial LLC purchased a new stake in Putnam Managed Municipal Income Trust during the 1st quarter valued at $91,000. Finally, Wesbanco Bank Inc. purchased a new stake in Putnam Managed Municipal Income Trust during the 2nd quarter valued at $172,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM stock traded up $0.01 during trading hours on Friday, hitting $6.49. 90,167 shares of the company’s stock traded hands, compared to its average volume of 103,815. The stock’s fifty day simple moving average is $6.42 and its two-hundred day simple moving average is $6.19. Putnam Managed Municipal Income Trust has a 12-month low of $5.00 and a 12-month high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 24th will be issued a $0.0238 dividend. The ex-dividend date is Thursday, October 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.40%.

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.