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

Putnam Managed (NYSE:PMM) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 12,361 shares, a drop of 72.1% from the January 15th total of 44,248 shares. Based on an average trading volume of 131,449 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 131,449 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Putnam Managed

A number of hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. raised its position in shares of 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 buying an additional 444,374 shares in the last quarter. G2 Capital Management LLC OH bought a new position in Putnam Managed in the fourth quarter valued at approximately $673,000. Allworth Financial LP acquired a new position in Putnam Managed during the second quarter valued at approximately $617,000. Invesco Ltd. lifted its stake in Putnam Managed by 55.0% during the second quarter. Invesco Ltd. now owns 261,413 shares of the company’s stock worth $1,563,000 after purchasing an additional 92,727 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in shares of Putnam Managed by 10.2% in the 2nd quarter. Guggenheim Capital LLC now owns 997,567 shares of the company’s stock valued at $5,965,000 after purchasing an additional 91,933 shares in the last quarter. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Stock Performance

NYSE PMM traded down $0.02 during trading on Wednesday, reaching $6.35. The company’s stock had a trading volume of 116,650 shares, compared to its average volume of 104,016. The firm has a 50 day moving average price of $6.22 and a 200 day moving average price of $6.09. Putnam Managed has a 12 month low of $5.66 and a 12 month high of $6.44.

Putnam Managed Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be paid a $0.0265 dividend. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, February 20th.

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.