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

Putnam Managed (NYSE:PMM) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 29,550 shares, a decrease of 17.7% from the February 12th total of 35,887 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 94,102 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 94,102 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Putnam Managed Price Performance

Shares of NYSE:PMM traded down $0.01 during trading on Wednesday, reaching $6.31. 3,793 shares of the company’s stock traded hands, compared to its average volume of 98,477. Putnam Managed has a fifty-two week low of $5.66 and a fifty-two week high of $6.52. The company has a 50-day simple moving average of $6.30 and a 200-day simple moving average of $6.18.

Putnam Managed Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a $0.0265 dividend. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PMM. Wells Fargo & Company MN lifted its position in shares of Putnam Managed by 1.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,111,767 shares of the company’s stock valued at $6,971,000 after buying an additional 15,203 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake 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 acquiring an additional 444,374 shares during the period. Guggenheim Capital LLC increased its holdings in Putnam Managed by 10.2% in the 2nd quarter. Guggenheim Capital LLC now owns 997,567 shares of the company’s stock worth $5,965,000 after acquiring an additional 91,933 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Putnam Managed by 29.9% in the 4th quarter. Advisors Asset Management Inc. now owns 867,048 shares of the company’s stock worth $5,436,000 after acquiring an additional 199,831 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in Putnam Managed by 4.1% during the third quarter. Raymond James Financial Inc. now owns 548,110 shares of the company’s stock worth $3,311,000 after acquiring an additional 21,509 shares during the period. 13.54% of the stock is owned by institutional investors and hedge funds.

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.