Putnam Managed (NYSE:PMM) Short Interest Update

Key Points

• Short interest dropped by 17.7% in February to 29,550 shares (about 0.1% of shares) with a days-to-cover ratio of 0.3 days.
• Several managers initiated small new stakes in Q2–Q4 (individual buys roughly $36k–$63k), and hedge funds/institutions own about 13.54% of the stock.
• The fund declared a monthly dividend of $0.0265 (ex-dividend date May 21, payable May 29), implying a yield of about 5.1%, while the shares trade near $6.28 with a 52-week range of $5.66–$6.52.

Putnam Managed (NYSE:PMM - Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 29,550 shares, a drop of 17.7% from the February 12th total of 35,887 shares. Based on an average daily volume of 94,102 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company's shares are short sold. Approximately 0.1% of the company's shares are short sold. Based on an average daily volume of 94,102 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of Putnam Managed in the fourth quarter worth approximately $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Putnam Managed during the fourth quarter worth approximately $45,000. Nomura Holdings Inc. purchased a new position in Putnam Managed during the second quarter worth approximately $60,000. WealthCare Investment Partners LLC purchased a new position in Putnam Managed during the third quarter worth approximately $61,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Putnam Managed in the 4th quarter valued at $63,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Stock Performance

Putnam Managed stock traded down $0.01 during trading on Monday, hitting $6.28. The company's stock had a trading volume of 68,588 shares, compared to its average volume of 94,965. The stock's fifty day moving average is $6.30 and its 200 day moving average is $6.18. Putnam Managed has a 1-year low of $5.66 and a 1-year high of $6.52.

Putnam Managed Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a $0.0265 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a yield of 5.1%.

About Putnam Managed

Putnam Managed Municipal Income Trust NYSE: PMM is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.

Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.

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