Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Drops By 83.2%

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 11,300 shares, a decline of 83.2% from the March 15th total of 67,200 shares. Based on an average daily trading volume, of 3,400 shares, the short-interest ratio is presently 3.3 days.

Putnam Managed Municipal Income Trust Trading Down 1.2 %

Shares of NYSE PMM traded down $0.07 during trading hours on Wednesday, hitting $5.93. The stock had a trading volume of 123,698 shares, compared to its average volume of 119,129. The firm's 50-day moving average price is $6.11 and its two-hundred day moving average price is $5.86. Putnam Managed Municipal Income Trust has a 52 week low of $5.00 and a 52 week high of $6.42.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 24th will be given a dividend of $0.0238 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $0.29 dividend on an annualized basis and a yield of 4.82%.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors acquired a new position in Putnam Managed Municipal Income Trust during the second quarter worth $26,000. Farther Finance Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust in the 2nd quarter valued at approximately $38,000. Quarry LP acquired a new position in shares of Putnam Managed Municipal Income Trust during the 2nd quarter worth approximately $49,000. International Assets Investment Management LLC acquired a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter worth approximately $50,000. Finally, Nomura Holdings Inc. bought a new position in shares of Putnam Managed Municipal Income Trust during the 1st quarter worth approximately $61,000. 13.54% of the stock is owned by institutional investors.

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.

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