Putnam Mast Int (NYSE:PIM) Shares Shorted: Short Interest Down 47.3% in October

Key Points

• Short interest fell 47.3% in October to 48,436 shares, representing about 0.1% of PIM’s outstanding shares and a days-to-cover ratio of 0.4.
• Institutional investors own approximately 55.06% of Putnam Mast Int, with several firms increasing positions or establishing new stakes.
• PIM shares recently traded at $3.04, while the fund announced a monthly dividend of $0.022 per share, equivalent to an annualized yield of approximately 8.7%.

Putnam Mast Int (NYSE:PIM - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 48,436 shares, a decrease of 47.3% from the September 30th total of 91,899 shares. Based on an average trading volume of 114,473 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Putnam Mast Int

A number of institutional investors have recently bought and sold shares of PIM. Penbrook Management LLC increased its stake in Putnam Mast Int by 3.4% during the third quarter. Penbrook Management LLC now owns 152,063 shares of the company's stock worth $459,000 after acquiring an additional 5,000 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in Putnam Mast Int in the third quarter valued at $39,000. Baird Financial Group Inc. increased its position in shares of Putnam Mast Int by 6.4% during the 2nd quarter. Baird Financial Group Inc. now owns 66,500 shares of the company's stock worth $215,000 after purchasing an additional 4,000 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Putnam Mast Int during the 2nd quarter worth about $240,000. Finally, Kraematon Investment Advisors Inc. purchased a new stake in Putnam Mast Int in the 2nd quarter valued at about $155,000. 55.06% of the stock is owned by hedge funds and other institutional investors.

Putnam Mast Int Stock Up 0.8%

NYSE PIM traded up $0.03 during trading hours on Friday, hitting $3.04. 170,209 shares of the company's stock traded hands, compared to its average volume of 104,005. Putnam Mast Int has a 52-week low of $2.95 and a 52-week high of $3.42. The firm's 50-day moving average is $3.06 and its 200-day moving average is $3.18.

Putnam Mast Int Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a $0.0220 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 8.7%.

Putnam Mast Int Company Profile

Putnam Managed Municipal Income Trust NYSE: PIM is a closed-end management investment company that seeks to provide high current income that is exempt from federal income tax.

The fund invests primarily in municipal securities issued by states, municipalities and other governmental entities. Its portfolio may include bonds that finance public infrastructure and services, with investment decisions made according to the fund's objectives, policies and risk considerations.

Putnam Investment Management, LLC serves as the fund's investment adviser.

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