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

Putnam Managed Municipal Income Trust (NYSE:PMMGet Rating) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 50,200 shares, an increase of 114.5% from the April 15th total of 23,400 shares. Based on an average trading volume of 163,000 shares, the short-interest ratio is presently 0.3 days.

Shares of Putnam Managed Municipal Income Trust stock traded down $0.05 during trading hours on Friday, reaching $6.50. The stock had a trading volume of 177,747 shares, compared to its average volume of 176,383. The stock’s 50 day moving average is $6.81 and its 200 day moving average is $7.67. Putnam Managed Municipal Income Trust has a twelve month low of $6.35 and a twelve month high of $8.92.

The business also recently declared a dividend, which was paid on Monday, May 2nd. Investors of record on Friday, April 22nd were given a dividend of $0.032 per share. The ex-dividend date was Thursday, April 21st. This represents a dividend yield of 5.79%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PMM. Doyle Wealth Management purchased a new stake in Putnam Managed Municipal Income Trust during the 1st quarter valued at about $85,000. HighTower Advisors LLC acquired a new position in shares of Putnam Managed Municipal Income Trust in the 1st quarter worth approximately $78,000. Landscape Capital Management L.L.C. acquired a new position in shares of Putnam Managed Municipal Income Trust in the 1st quarter worth approximately $260,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Putnam Managed Municipal Income Trust by 1.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 195,046 shares of the company’s stock valued at $1,379,000 after purchasing an additional 3,621 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Putnam Managed Municipal Income Trust by 7.1% in the 1st quarter. Raymond James & Associates now owns 721,872 shares of the company’s stock valued at $5,104,000 after purchasing an additional 47,760 shares in the last quarter. Hedge funds and other institutional investors own 17.41% of the company’s stock.

Putnam Managed Municipal Income Trust Company Profile (Get Rating)

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.

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