Putnam Managed (NYSE:PMM) Short Interest Update

Key Points

• Putnam Managed (NYSE:PMM) experienced a significant 62.4% drop in short interest in August, with short shares decreasing from 74,200 to 27,900, equating to just 0.1% of the company's stock.
• Several institutional investors have recently acquired stakes in Putnam Managed, with investments including $85,000 from Meridian Wealth Management LLC and $72,000 from Wealthcare Advisory Partners LLC.
• Putnam Managed announced a monthly dividend of $0.0265 per share, with an ex-dividend date of October 17th, representing an annualized yield of 5.2%.

Putnam Managed (NYSE:PMM - ) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 27,900 shares, a drop of 62.4% from the August 15th total of 74,200 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily volume of 85,900 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 85,900 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company's stock are short sold.

Institutional Trading of Putnam Managed

A number of large investors have recently made changes to their positions in PMM. Duncker Streett & Co. Inc. bought a new stake in shares of Putnam Managed in the second quarter worth approximately $42,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Putnam Managed in the first quarter worth approximately $55,000. Nomura Holdings Inc. bought a new stake in shares of Putnam Managed in the second quarter worth approximately $60,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Putnam Managed in the second quarter worth approximately $72,000. Finally, Meridian Wealth Management LLC bought a new stake in shares of Putnam Managed in the second quarter worth approximately $85,000. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Stock Performance

NYSE:PMM opened at $6.09 on Friday. Putnam Managed has a fifty-two week low of $5.66 and a fifty-two week high of $6.61. The firm has a 50-day simple moving average of $5.88 and a two-hundred day simple moving average of $5.96.

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 paid a dividend of $0.0265 per share. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Friday, October 17th.

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.

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