PUTNAM MANAGED (NYSE:PMM) Short Interest Down 39.5% in September

Key Points

• Short interest in Putnam Managed Municipal Income Trust decreased by 39.5% in September, with a total of 40,900 shares as of September 30th.
• Multiple institutional investors significantly increased their stakes in the company, with Guggenheim Capital and Sit Investment Associates growing their positions by 10.2% and 130.8%, respectively.
• Putnam Managed announced a monthly dividend of $0.0265 per share, payable on October 31st, resulting in an annualized yield of 5.2% for shareholders.

PUTNAM MANAGED (NYSE:PMM - ) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 40,900 shares, a decrease of 39.5% from the September 15th total of 67,600 shares. Based on an average daily volume of 97,400 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 97,400 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Guggenheim Capital LLC grew its position in shares of PUTNAM MANAGED by 10.2% during the 2nd quarter. Guggenheim Capital LLC now owns 997,567 shares of the company's stock valued at $5,965,000 after acquiring an additional 91,933 shares during the period. Advisors Asset Management Inc. grew its position in shares of PUTNAM MANAGED 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 acquiring an additional 78,366 shares during the period. Raymond James Financial Inc. grew its position in shares of PUTNAM MANAGED by 11.8% during the 2nd quarter. Raymond James Financial Inc. now owns 526,601 shares of the company's stock valued at $3,149,000 after acquiring an additional 55,674 shares during the period. Sit Investment Associates Inc. grew its position in shares of PUTNAM MANAGED by 130.8% during the 1st quarter. Sit Investment Associates Inc. now owns 515,349 shares of the company's stock valued at $3,159,000 after acquiring an additional 292,037 shares during the period. Finally, Invesco Ltd. grew its position in shares of PUTNAM MANAGED by 55.0% during the 2nd quarter. Invesco Ltd. now owns 261,413 shares of the company's stock valued at $1,563,000 after acquiring an additional 92,727 shares during the period. 13.54% of the stock is owned by institutional investors.

PUTNAM MANAGED Stock Up 0.3%

Shares of PMM stock opened at $6.09 on Tuesday. PUTNAM MANAGED has a 52-week low of $5.66 and a 52-week high of $6.52. The company has a 50-day simple moving average of $6.01 and a two-hundred day simple moving average of $5.94.

PUTNAM MANAGED Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $0.0265 dividend. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, October 17th.

PUTNAM MANAGED 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.

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