Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Up 500.8% in March

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 141,800 shares, a growth of 500.8% from the March 15th total of 23,600 shares. Based on an average daily trading volume, of 145,700 shares, the short-interest ratio is presently 1.0 days. Approximately 0.3% of the shares of the company are short sold.

Putnam Managed Municipal Income Trust Price Performance

NYSE:PMM traded up $0.02 on Friday, reaching $5.86. 95,454 shares of the company's stock were exchanged, compared to its average volume of 116,520. The stock has a fifty day simple moving average of $6.13 and a 200-day simple moving average of $6.20. Putnam Managed Municipal Income Trust has a 52 week low of $5.66 and a 52 week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th will be given a $0.0238 dividend. This represents a dividend yield of 4.88%. The ex-dividend date is Thursday, April 17th.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of large investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Putnam Managed Municipal Income Trust during the fourth quarter valued at approximately $2,720,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Putnam Managed Municipal Income Trust during the 1st quarter valued at about $1,587,000. Advisors Asset Management Inc. lifted its position in Putnam Managed Municipal Income Trust by 22.9% in the 4th quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company's stock worth $4,761,000 after buying an additional 148,493 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Putnam Managed Municipal Income Trust by 20.4% in the fourth quarter. Guggenheim Capital LLC now owns 712,551 shares of the company's stock worth $4,254,000 after buying an additional 120,948 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Putnam Managed Municipal Income Trust during the fourth quarter valued at approximately $350,000. 13.54% of the stock is currently 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.