Putnam Managed (NYSE:PMM) Sees Large Increase in Short Interest

Putnam Managed (NYSE:PMM) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 44,248 shares, a growth of 19.6% from the December 31st total of 36,990 shares. Based on an average daily volume of 83,461 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the shares of the stock are sold short. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 83,461 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Putnam Managed

A number of hedge funds have recently made changes to their positions in PMM. NewEdge Advisors LLC grew its holdings in shares of Putnam Managed by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 34,381 shares of the company’s stock valued at $211,000 after purchasing an additional 10,014 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Putnam Managed in the second quarter worth $72,000. Duncker Streett & Co. Inc. purchased a new stake in Putnam Managed during the second quarter valued at about $42,000. Ballast Inc. bought a new position in shares of Putnam Managed during the second quarter valued at about $184,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Putnam Managed in the second quarter worth about $104,000. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Price Performance

Shares of PMM traded up $0.01 during midday trading on Tuesday, reaching $6.26. The stock had a trading volume of 136,113 shares, compared to its average volume of 101,666. The company’s 50-day moving average is $6.20 and its 200 day moving average is $6.08. Putnam Managed has a 12-month low of $5.66 and a 12-month high of $6.44.

Putnam Managed Announces Dividend

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

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.