Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Decreases By 13.6%

Putnam Managed Municipal Income Trust (NYSE:PMM) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 23,600 shares, a decline of 13.6% from the February 28th total of 27,300 shares. Based on an average daily trading volume, of 153,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the purchase, the insider now directly owns 16,585 shares of the company’s stock, valued at $99,841.70. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC boosted its position in shares of Putnam Managed Municipal Income Trust by 235.9% during the fourth 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 bought a new stake in Putnam Managed Municipal Income Trust during the 4th quarter worth approximately $66,000. Sanctuary Advisors LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 3rd quarter valued at about $70,000. Wedbush Securities Inc. lifted its position in Putnam Managed Municipal Income Trust by 37.2% during the fourth quarter. Wedbush Securities Inc. now owns 14,007 shares of the company’s stock valued at $84,000 after purchasing an additional 3,800 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Putnam Managed Municipal Income Trust in the 4th quarter worth approximately $103,000. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Down 0.6 %

PMM traded down $0.04 during midday trading on Wednesday, hitting $6.16. 34,713 shares of the company were exchanged, compared to its average volume of 113,385. The firm’s 50 day moving average price is $6.23 and its 200-day moving average price is $6.26. Putnam Managed Municipal Income Trust has a 1-year low of $5.83 and a 1-year high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Monday, March 17th.

About Putnam Managed Municipal Income Trust

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.