Short Interest in Putnam Managed (NYSE:PMM) Drops By 43.3%

Putnam Managed (NYSE:PMM) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 29,660 shares, a decrease of 43.3% from the November 30th total of 52,308 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 172,971 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 172,971 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

Putnam Managed Stock Performance

Shares of NYSE:PMM opened at $6.23 on Friday. Putnam Managed has a 12-month low of $5.66 and a 12-month high of $6.44. The business has a 50 day moving average of $6.13 and a 200-day moving average of $6.02.

Putnam Managed Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be paid a $0.0265 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 5.1%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in Putnam Managed during the second quarter worth about $617,000. 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 worth $1,563,000 after purchasing an additional 92,727 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Putnam Managed by 10.2% during the second quarter. Guggenheim Capital LLC now owns 997,567 shares of the company’s stock worth $5,965,000 after purchasing an additional 91,933 shares during the period. Ameriprise Financial Inc. raised its position in shares of Putnam Managed by 36.4% in the third quarter. Ameriprise Financial Inc. now owns 307,887 shares of the company’s stock valued at $1,843,000 after buying an additional 82,224 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Putnam Managed by 9.8% in the first quarter. Advisors Asset Management Inc. now owns 875,831 shares of the company’s stock valued at $5,369,000 after buying an additional 78,366 shares during the period. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Company Profile

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.