Putnam Managed Municipal Income Trust (NYSE:PMM) Short Interest Down 13.8% in June

Putnam Managed Municipal Income Trust (NYSE:PMM) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 29,300 shares, a decline of 13.8% from the May 31st total of 34,000 shares. Based on an average daily trading volume, of 99,000 shares, the short-interest ratio is presently 0.3 days.

Putnam Managed Municipal Income Trust Stock Down 0.8 %

Shares of PMM stock traded down $0.05 during mid-day trading on Monday, hitting $6.15. The company’s stock had a trading volume of 79,119 shares, compared to its average volume of 105,684. The business has a 50-day moving average price of $6.03 and a 200 day moving average price of $6.08. Putnam Managed Municipal Income Trust has a 52-week low of $5.00 and a 52-week high of $6.42.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 24th will be issued a $0.0238 dividend. This represents a $0.29 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Monday, June 24th.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds have recently added to or reduced their stakes in PMM. Nomura Holdings Inc. bought a new stake in shares of Putnam Managed Municipal Income Trust during the 4th quarter valued at about $63,000. HTLF Bank purchased a new stake in shares of Putnam Managed Municipal Income Trust in the fourth quarter worth about $68,000. Gilliland Jeter Wealth Management LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the 4th quarter valued at approximately $71,000. Kestra Private Wealth Services LLC increased its stake in Putnam Managed Municipal Income Trust by 17.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 13,244 shares of the company’s stock worth $81,000 after acquiring an additional 1,944 shares during the last quarter. Finally, Clear Creek Financial Management LLC purchased a new stake in Putnam Managed Municipal Income Trust during the fourth quarter valued at approximately $87,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

About Putnam Managed Municipal Income Trust

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.