Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Declines By 57.0%

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) was the recipient 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 currently 0.6 days. Approximately 0.2% of the company's stock are sold short.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM stock traded down $0.01 during mid-day trading on Monday, reaching $5.90. 66,697 shares of the company's stock traded hands, compared to its average volume of 116,560. Putnam Managed Municipal Income Trust has a 12 month low of $5.66 and a 12 month high of $6.61. The company's 50-day moving average price is $5.94 and its 200-day moving average price is $6.11.

Putnam Managed Municipal Income Trust Increases Dividend

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

Institutional Trading of Putnam Managed Municipal Income Trust

A number of hedge funds have recently modified their holdings of PMM. Avior Wealth Management LLC boosted its holdings in shares of Putnam Managed Municipal Income Trust by 235.9% during the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company's stock valued at $25,000 after buying an additional 2,909 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Putnam Managed Municipal Income Trust by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 341,484 shares of the company's stock valued at $2,039,000 after buying an additional 11,828 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter worth about $350,000. Noble Wealth Management PBC purchased a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter worth about $104,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Putnam Managed Municipal Income Trust in the 4th quarter worth about $2,720,000. Institutional investors own 13.54% of the company's stock.

About Putnam Managed Municipal Income Trust

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.