Putnam Mast Int (NYSE:PIM) Sees Significant Growth in Short Interest

Key Points

• Short interest in Putnam Mast Int rose 81.2% from 61,680 to 111,784 shares between August 15 and August 31. Shorted shares represent 0.2% of the stock, with a days-to-cover ratio of 2.3.
• Institutional investors recently established new positions in PIM, and hedge funds and other institutions now own 55.06% of the company’s stock.
• PIM remained at $3.05, near its one-year low of $2.98, while the trust declared a monthly dividend of $0.022 per share, representing an annualized yield of 8.7%.

Putnam Mast Int (NYSE:PIM - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 111,784 shares, a growth of 81.2% from the August 15th total of 61,680 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 48,434 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Putnam Mast Int

A number of institutional investors have recently added to or reduced their stakes in PIM. OMC Financial Services LTD purchased a new position in shares of Putnam Mast Int during the 2nd quarter worth approximately $81,000. Maridea Wealth Management LLC purchased a new stake in Putnam Mast Int in the 2nd quarter valued at approximately $91,000. Arrowroot Family Office LLC purchased a new stake in Putnam Mast Int in the 2nd quarter valued at approximately $100,000. Northstar Financial Companies Inc. purchased a new stake in Putnam Mast Int in the 1st quarter valued at approximately $49,000. Finally, Kraematon Investment Advisors Inc. acquired a new stake in Putnam Mast Int during the 2nd quarter valued at $155,000. Hedge funds and other institutional investors own 55.06% of the company's stock.

Putnam Mast Int Stock Performance

NYSE:PIM remained flat at $3.05 during trading hours on Wednesday. The company's stock had a trading volume of 30,321 shares, compared to its average volume of 74,768. The company has a 50-day moving average price of $3.15 and a 200-day moving average price of $3.19. Putnam Mast Int has a 1 year low of $2.98 and a 1 year high of $3.50.

Putnam Mast Int Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a $0.022 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date is Friday, November 20th.

About Putnam Mast Int

Putnam Managed Municipal Income Trust is a closed-end investment company listed on the New York Stock Exchange under the symbol PIM. The fund is managed by Putnam Investment Management, an investment management firm affiliated with Putnam Investments.

The trust's primary objective is to seek current income that is exempt from federal income tax. It generally invests in a diversified portfolio of municipal securities issued by states, municipalities, and other public entities in the United States.

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