Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Up 36.2% in July

Putnam Managed Municipal Income Trust (NYSE:PMM – Get Rating) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 126,500 shares, an increase of 36.2% from the June 30th total of 92,900 shares. Based on an average trading volume of 147,900 shares, the days-to-cover ratio is currently 0.9 days.

Putnam Managed Municipal Income Trust Trading Down 0.6 %

PMM opened at $6.87 on Monday. Putnam Managed Municipal Income Trust has a twelve month low of $6.17 and a twelve month high of $8.90. The company’s 50-day moving average price is $6.74 and its two-hundred day moving average price is $6.95.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 22nd will be paid a dividend of $0.032 per share. This represents a dividend yield of 5.45%. The ex-dividend date is Thursday, July 21st.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 8.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 20,568 shares of the company’s stock valued at $180,000 after buying an additional 1,660 shares in the last quarter. Raymond James Trust N.A. lifted its stake in shares of Putnam Managed Municipal Income Trust by 28.3% during the 4th quarter. Raymond James Trust N.A. now owns 13,380 shares of the company’s stock valued at $117,000 after buying an additional 2,950 shares in the last quarter. TCTC Holdings LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 47.4% during the 4th quarter. TCTC Holdings LLC now owns 10,020 shares of the company’s stock valued at $88,000 after buying an additional 3,220 shares in the last quarter. Goodwin Daniel L lifted its stake in Putnam Managed Municipal Income Trust by 3.9% in the 2nd quarter. Goodwin Daniel L now owns 93,612 shares of the company’s stock worth $620,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in 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 worth $1,379,000 after purchasing an additional 3,621 shares in the last quarter. 17.41% of the stock is currently owned by hedge funds and other institutional investors.

About Putnam Managed Municipal Income Trust

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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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