Putnam Managed (NYSE:PMM) Short Interest Update

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

Putnam Managed Trading Down 0.7%

PMM opened at $5.95 on Friday. The firm’s 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $6.19. Putnam Managed has a 1-year low of $5.66 and a 1-year high of $6.52.

Putnam Managed Announces Dividend

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

Hedge Funds Weigh In On Putnam Managed

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in shares of Putnam Managed in the fourth quarter valued at about $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Putnam Managed during the fourth quarter worth about $45,000. Nomura Holdings Inc. bought a new stake in Putnam Managed during the 2nd quarter valued at approximately $60,000. WealthCare Investment Partners LLC purchased a new position in Putnam Managed in the 3rd quarter worth approximately $61,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in Putnam Managed in the 4th quarter worth approximately $63,000. 13.54% of the stock is currently owned by hedge funds and other 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.