Putnam Managed (NYSE:PMM) Short Interest Down 51.1% in July

Key Points

• PUTNAM MANAGED (NYSE:PMM) experienced a significant decline in short interest, dropping by 51.1% from July 15th to July 31st, now totaling 47,400 shares.
• The company declared a dividend of $0.0265, which is set to be paid on August 29th, offering an impressive dividend yield of 537.0%.
• Institutional investors have shown increased interest in PUTNAM MANAGED, with several firms acquiring new stakes in the company during the second quarter, now owning 13.54% of its shares.

Putnam Managed (NYSE:PMM - Get Free Report) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 47,400 shares, adecreaseof51.1% from the July 15th total of 96,900 shares. Based on an average daily trading volume, of 75,700 shares, the short-interest ratio is presently 0.6 days. Approximately0.1% of the shares of the company are sold short. Approximately0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 75,700 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PMM. Jane Street Group LLC purchased a new position in Putnam Managed in the fourth quarter valued at about $203,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Putnam Managed during the first quarter worth approximately $1,587,000. Advisor Resource Council acquired a new stake in Putnam Managed during the first quarter worth approximately $406,000. Invesco Ltd. boosted its holdings in shares of Putnam Managed by 132.0% in the 4th quarter. Invesco Ltd. now owns 98,495 shares of the company's stock valued at $588,000 after purchasing an additional 56,041 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Putnam Managed in the 4th quarter valued at $2,720,000. 13.54% of the stock is owned by hedge funds and other institutional investors.

Putnam Managed Price Performance

Shares of NYSE:PMM traded up $0.0650 on Friday, reaching $5.8550. The company's stock had a trading volume of 68,208 shares, compared to its average volume of 110,035. The stock's 50-day moving average is $5.89 and its two-hundred day moving average is $6.00. Putnam Managed has a 52-week low of $5.66 and a 52-week high of $6.61.

Putnam Managed Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a $0.0265 dividend. This represents a dividend yield of 537.0%. The ex-dividend date of this dividend is Monday, August 18th.

About Putnam Managed

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.