Putnam Managed (NYSE:PMM) Short Interest Update

Putnam Managed (NYSE:PMM) was the target of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 68,195 shares, a decline of 38.7% from the July 30th total of 111,257 shares. Based on an average trading volume of 106,833 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.2% of the company’s stock are sold short.

Putnam Managed Stock Performance

Shares of PMM traded down $0.03 during midday trading on Wednesday, reaching $6.15. The stock had a trading volume of 65,201 shares, compared to its average volume of 99,289. The firm has a 50 day simple moving average of $6.38 and a 200-day simple moving average of $6.29. Putnam Managed has a one year low of $5.82 and a one year high of $6.60.

Putnam Managed Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a dividend of $0.033 per share. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, November 20th.

Institutional Investors Weigh In On Putnam Managed

Several hedge funds and other institutional investors have recently made changes to their positions in PMM. Northwestern Mutual Wealth Management Co. raised its position 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 valued at $72,000 after buying an additional 1,873 shares in the last quarter. WealthBridge Capital Management LLC grew its position in Putnam Managed by 7.4% in the first quarter. WealthBridge Capital Management LLC now owns 36,500 shares of the company’s stock worth $224,000 after acquiring an additional 2,500 shares in the last quarter. Fortitude Advisory Group L.L.C. increased its stake in Putnam Managed by 17.2% in the second quarter. Fortitude Advisory Group L.L.C. now owns 21,429 shares of the company’s stock valued at $140,000 after acquiring an additional 3,144 shares during the last quarter. Van ECK Associates Corp raised its position in Putnam Managed by 1.6% during the third quarter. Van ECK Associates Corp now owns 280,580 shares of the company’s stock valued at $1,695,000 after purchasing an additional 4,283 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Putnam Managed by 13.3% during the first quarter. Kestra Advisory Services LLC now owns 39,476 shares of the company’s stock worth $243,000 after purchasing an additional 4,624 shares during the last quarter. 13.54% of the stock is owned by institutional investors.

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.