Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Down 52.1% in March

Putnam Managed Municipal Income Trust (NYSE:PMMGet Rating) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 53,700 shares, a decrease of 52.1% from the March 15th total of 112,100 shares. Based on an average daily volume of 155,400 shares, the days-to-cover ratio is currently 0.3 days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Andrew Hill Investment Advisors Inc. bought a new position in Putnam Managed Municipal Income Trust in the fourth quarter valued at $74,000. CWM LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the fourth quarter valued at about $85,000. TCTC Holdings LLC grew its stake in shares of Putnam Managed Municipal Income Trust by 47.4% during the fourth quarter. TCTC Holdings LLC now owns 10,020 shares of the company’s stock valued at $88,000 after buying an additional 3,220 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Putnam Managed Municipal Income Trust by 28.3% during the fourth quarter. Raymond James Trust N.A. now owns 13,380 shares of the company’s stock valued at $117,000 after buying an additional 2,950 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its stake in shares of Putnam Managed Municipal Income Trust by 28.9% during the third quarter. Kestra Advisory Services LLC now owns 16,064 shares of the company’s stock valued at $134,000 after buying an additional 3,604 shares during the last quarter. 17.28% of the stock is currently owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust stock opened at $6.63 on Thursday. Putnam Managed Municipal Income Trust has a fifty-two week low of $6.63 and a fifty-two week high of $8.92. The stock has a fifty day moving average price of $7.18.

The company also recently announced a dividend, which will be paid on Monday, May 2nd. Investors of record on Friday, April 22nd will be paid a $0.032 dividend. The ex-dividend date is Thursday, April 21st. This represents a yield of 5.79%.

Putnam Managed Municipal Income Trust Company Profile (Get Rating)

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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