Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Down 13.6% in March

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

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM traded down $0.01 during trading hours on Thursday, reaching $6.16. 89,917 shares of the company traded hands, compared to its average volume of 113,672. The business has a fifty day moving average price of $6.22 and a 200-day moving average price of $6.26. Putnam Managed Municipal Income Trust has a 12-month low of $5.83 and a 12-month high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

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

Insider Activity

In related news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the purchase, the insider now directly owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

A number of large investors have recently bought and sold shares of PMM. Avior Wealth Management LLC raised its holdings 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 worth $25,000 after purchasing an additional 2,909 shares during the last quarter. Virtu Financial LLC acquired a new stake in Putnam Managed Municipal Income Trust during the 4th quarter worth about $66,000. Sanctuary Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $70,000. Wedbush Securities Inc. raised its stake in shares of Putnam Managed Municipal Income Trust by 37.2% during the 4th quarter. Wedbush Securities Inc. now owns 14,007 shares of the company’s stock valued at $84,000 after buying an additional 3,800 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at about $103,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

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.