Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Up 18.7% in January

Putnam Managed Municipal Income Trust (NYSE:PMM) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 38,700 shares, a growth of 18.7% from the January 15th total of 32,600 shares. Based on an average trading volume of 145,900 shares, the short-interest ratio is currently 0.3 days.

Insider Buying and Selling at Putnam Managed Municipal Income Trust

In other news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction that occurred on Friday, January 10th. The shares were purchased at an average price of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the acquisition, the insider now owns 16,585 shares of the company’s stock, valued at $99,841.70. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PMM. Ashton Thomas Securities LLC purchased a new position in Putnam Managed Municipal Income Trust in the 3rd quarter valued at about $25,000. Avior Wealth Management LLC boosted its stake in shares of Putnam Managed Municipal Income Trust by 235.9% during the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after buying an additional 2,909 shares during the last quarter. Virtu Financial LLC acquired a new stake in Putnam Managed Municipal Income Trust in the fourth quarter valued at $66,000. Sanctuary Advisors LLC bought a new position in Putnam Managed Municipal Income Trust during the 3rd quarter valued at $70,000. Finally, Ackerman Capital Advisors LLC acquired a new position in Putnam Managed Municipal Income Trust during the 3rd quarter worth $70,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Municipal Income Trust Price Performance

PMM traded up $0.17 during trading on Monday, hitting $6.37. 324,363 shares of the company’s stock were exchanged, compared to its average volume of 137,977. The stock has a 50 day moving average price of $6.15 and a 200 day moving average price of $6.29. Putnam Managed Municipal Income Trust has a 1 year low of $5.82 and a 1 year high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 24th will be issued a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Monday, February 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.