Putnam Managed (NYSE:PMM) Short Interest Up 141.6% in March

Putnam Managed (NYSE:PMM) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 71,396 shares, a growth of 141.6% from the February 26th total of 29,550 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 105,239 shares, the short-interest ratio is presently 0.7 days.

Putnam Managed Price Performance

Shares of NYSE PMM traded down $0.04 during trading hours on Friday, reaching $5.95. 179,395 shares of the stock were exchanged, compared to its average volume of 91,237. The stock’s fifty day simple moving average is $6.28 and its 200 day simple moving average is $6.19. Putnam Managed has a 52 week low of $5.66 and a 52 week high of $6.52.

Putnam Managed Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be given a $0.0265 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Thursday, May 21st.

Hedge Funds Weigh In On Putnam Managed

Hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. boosted its holdings in Putnam Managed by 78.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,009,350 shares of the company’s stock valued at $6,329,000 after purchasing an additional 444,374 shares during the period. Rivernorth Capital Management LLC bought a new position in shares of Putnam Managed during the fourth quarter worth approximately $1,722,000. Advisors Asset Management Inc. raised its position in shares of Putnam Managed by 29.9% in the fourth quarter. Advisors Asset Management Inc. now owns 867,048 shares of the company’s stock valued at $5,436,000 after buying an additional 199,831 shares in the last quarter. &PARTNERS acquired a new stake in shares of Putnam Managed in the fourth quarter valued at approximately $750,000. Finally, G2 Capital Management LLC OH bought a new stake in shares of Putnam Managed in the fourth quarter valued at approximately $673,000. 13.54% of the stock is owned by institutional investors.

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.