Short Interest in Putnam Managed (NYSE:PMM) Drops By 43.3%

Putnam Managed (NYSE:PMM) saw a significant decline in short interest in December. As of December 15th, there was short interest totaling 29,660 shares, a decline of 43.3% from the November 30th total of 52,308 shares. Based on an average daily volume of 172,971 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 172,971 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Putnam Managed

Several institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of Putnam Managed by 18.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 11,873 shares of the company’s stock worth $72,000 after purchasing an additional 1,873 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of Putnam Managed by 23.8% in the 2nd quarter. Wedbush Securities Inc. now owns 15,372 shares of the company’s stock worth $92,000 after purchasing an additional 2,960 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of 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 during the last quarter. Bank of America Corp DE boosted its holdings in shares of Putnam Managed by 4.8% in the third quarter. Bank of America Corp DE now owns 131,223 shares of the company’s stock worth $793,000 after buying an additional 5,971 shares during the last quarter. Finally, Duncker Streett & Co. Inc. purchased a new position in shares of Putnam Managed during the 2nd quarter valued at about $42,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Trading Up 0.1%

Putnam Managed stock traded up $0.01 during mid-day trading on Monday, hitting $6.23. 95,817 shares of the company traded hands, compared to its average volume of 111,763. Putnam Managed has a one year low of $5.66 and a one year high of $6.44. The stock has a fifty day moving average price of $6.13 and a 200-day moving average price of $6.02.

Putnam Managed Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.0265 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, February 20th.

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.