Putnam Managed Municipal Income Trust (NYSE:PMM) Sees Significant Drop in Short Interest

Putnam Managed Municipal Income Trust (NYSE:PMMGet Free Report) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 67,200 shares, a drop of 15.8% from the February 29th total of 79,800 shares. Based on an average trading volume of 122,600 shares, the short-interest ratio is currently 0.5 days.

Putnam Managed Municipal Income Trust Trading Down 1.3 %

PMM stock opened at $5.99 on Monday. Putnam Managed Municipal Income Trust has a 12-month low of $5.00 and a 12-month high of $6.42. The business’s 50-day moving average is $6.13 and its 200 day moving average is $5.85.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 24th will be issued a $0.0238 dividend. This represents a $0.29 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in Putnam Managed Municipal Income Trust in the 2nd quarter worth about $26,000. Farther Finance Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust in the 2nd quarter worth about $38,000. Quarry LP acquired a new stake in Putnam Managed Municipal Income Trust in the 2nd quarter worth about $49,000. International Assets Investment Management LLC acquired a new stake in Putnam Managed Municipal Income Trust in the 3rd quarter worth about $50,000. Finally, Nomura Holdings Inc. acquired a new stake in Putnam Managed Municipal Income Trust in the 1st quarter worth about $61,000. 13.54% of the stock is currently owned by institutional investors and hedge funds.

About Putnam Managed Municipal Income Trust

(Get Free Report)

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.

Further Reading

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