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

Putnam Managed (NYSE:PMM) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 20,168 shares, a decrease of 69.4% from the May 31st total of 65,881 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 91,067 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Putnam Managed in the 4th quarter worth $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Putnam Managed in the fourth quarter worth about $45,000. Nomura Holdings Inc. bought a new position in shares of Putnam Managed in the second quarter worth about $60,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Putnam Managed during the fourth quarter worth about $63,000. Finally, Virtu Financial LLC purchased a new stake in shares of Putnam Managed during the third quarter worth about $69,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Price Performance

NYSE PMM traded up $0.04 on Friday, reaching $6.39. 150,805 shares of the stock were exchanged, compared to its average volume of 81,328. Putnam Managed has a one year low of $5.77 and a one year high of $6.52. The company’s 50-day simple moving average is $6.25 and its two-hundred day simple moving average is $6.24.

Putnam Managed Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a $0.033 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

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.