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

Putnam Managed (NYSE:PMM) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 35,887 shares, an increase of 190.3% from the January 29th total of 12,361 shares. Based on an average daily volume of 96,978 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 96,978 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of Putnam Managed by 18.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 11,873 shares of the company’s stock worth $72,000 after purchasing an additional 1,873 shares during the period. WealthBridge Capital Management LLC increased its holdings in Putnam Managed by 9.5% during the fourth quarter. WealthBridge Capital Management LLC now owns 34,000 shares of the company’s stock worth $213,000 after buying an additional 2,950 shares during the last quarter. Wedbush Securities Inc. raised its position in Putnam Managed by 23.8% in the second quarter. Wedbush Securities Inc. now owns 15,372 shares of the company’s stock worth $92,000 after acquiring an additional 2,960 shares during the period. Van ECK Associates Corp boosted its stake in Putnam Managed by 1.6% in the third quarter. Van ECK Associates Corp now owns 280,580 shares of the company’s stock valued at $1,695,000 after acquiring an additional 4,283 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Putnam Managed during the 4th quarter valued at approximately $36,000. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Trading Up 0.4%

NYSE:PMM traded up $0.03 on Friday, hitting $6.45. The stock had a trading volume of 101,942 shares, compared to its average volume of 90,851. Putnam Managed has a 1 year low of $5.66 and a 1 year high of $6.45. The firm’s fifty day simple moving average is $6.27 and its two-hundred day simple moving average is $6.13.

Putnam Managed Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a dividend of $0.0265 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, May 21st.

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.