Short Interest in Putnam Managed (NYSE:PMM) Rises By 56.5%

Key Points

• Short interest in Putnam Managed increased by 56.5% in August, reaching a total of 74,200 shares.
• The firm announced a monthly dividend of $0.0265 per share, with an ex-dividend date of October 17th, reflecting a yield of 5.3%.
• Several institutional investors have recently increased their stakes in Putnam Managed, with Sit Investment Associates raising its position by 130.8% in the first quarter.

Putnam Managed (NYSE:PMM - ) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totaling 74,200 shares, anincreaseof56.5% from the July 31st total of 47,400 shares. Based on an average trading volume of 79,500 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 79,500 shares, the short-interest ratio is currently 0.9 days.

Putnam Managed Trading Up 1.7%

Shares of NYSE:PMM traded up $0.10 during trading on Friday, hitting $5.96. 191,884 shares of the company were exchanged, compared to its average volume of 98,482. The stock has a 50 day moving average of $5.88 and a 200 day moving average of $5.96. 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 disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a $0.0265 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, October 17th.

Institutional Investors Weigh In On Putnam Managed

A number of institutional investors and hedge funds have recently made changes to their positions in PMM. Sit Investment Associates Inc. raised its position in shares of Putnam Managed by 130.8% in the first quarter. Sit Investment Associates Inc. now owns 515,349 shares of the company's stock worth $3,159,000 after buying an additional 292,037 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Putnam Managed in the first quarter worth $1,587,000. Allworth Financial LP purchased a new stake in shares of Putnam Managed in the second quarter worth $617,000. Invesco Ltd. raised its position in shares of Putnam Managed by 55.0% in the second quarter. Invesco Ltd. now owns 261,413 shares of the company's stock worth $1,563,000 after buying an additional 92,727 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Putnam Managed by 10.2% in the second quarter. Guggenheim Capital LLC now owns 997,567 shares of the company's stock worth $5,965,000 after buying an additional 91,933 shares in the last quarter. Hedge funds and other institutional investors own 13.54% of the company's stock.

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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