Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Down 57.0% in May

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 72,300 shares, a decline of 57.0% from the April 30th total of 168,100 shares. Based on an average daily trading volume, of 118,000 shares, the short-interest ratio is presently 0.6 days. Currently, 0.2% of the shares of the company are sold short.

Putnam Managed Municipal Income Trust Price Performance

Shares of Putnam Managed Municipal Income Trust stock traded up $0.01 during trading hours on Friday, reaching $5.91. The company had a trading volume of 59,102 shares, compared to its average volume of 116,566. Putnam Managed Municipal Income Trust has a one year low of $5.66 and a one year high of $6.61. The business has a fifty day simple moving average of $5.94 and a 200 day simple moving average of $6.11.

Putnam Managed Municipal Income Trust Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.0265 per share. This is a boost from Putnam Managed Municipal Income Trust's previous dividend of $0.02. The ex-dividend date of this dividend is Monday, May 19th. This represents a yield of 5.27%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PMM. Advisors Asset Management Inc. grew its holdings in Putnam Managed Municipal Income Trust by 9.8% during the 1st quarter. Advisors Asset Management Inc. now owns 875,831 shares of the company's stock valued at $5,369,000 after buying an additional 78,366 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Putnam Managed Municipal Income Trust by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 712,659 shares of the company's stock valued at $4,255,000 after acquiring an additional 43,540 shares during the period. Guggenheim Capital LLC grew its stake in Putnam Managed Municipal Income Trust by 20.4% during the fourth quarter. Guggenheim Capital LLC now owns 712,551 shares of the company's stock valued at $4,254,000 after acquiring an additional 120,948 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in Putnam Managed Municipal Income Trust by 130.8% during the 1st quarter. Sit Investment Associates Inc. now owns 515,349 shares of the company's stock worth $3,159,000 after acquiring an additional 292,037 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Putnam Managed Municipal Income Trust during the 4th quarter worth approximately $2,720,000. Institutional investors own 13.54% of the company's stock.

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.