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

Putnam Managed (NYSE:PMM) saw a significant decline in short interest in February. As of February 27th, there was short interest totaling 29,550 shares, a decline 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 daily volume of 94,102 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 94,102 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Putnam Managed

A number of hedge funds and other institutional investors have recently bought and sold shares of PMM. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Putnam Managed during the 4th quarter valued at $45,000. Invesco Ltd. boosted its holdings in Putnam Managed by 23.1% during the fourth quarter. Invesco Ltd. now owns 417,901 shares of the company’s stock worth $2,620,000 after buying an additional 78,533 shares during the last quarter. Rivernorth Capital Management LLC bought a new position in Putnam Managed during the fourth quarter worth about $1,722,000. &PARTNERS acquired a new stake in shares of Putnam Managed in the 4th quarter valued at approximately $750,000. Finally, UMB Bank n.a. bought a new position in Putnam Managed during the 4th quarter worth approximately $70,000. 13.54% of the stock is owned by institutional investors.

Putnam Managed Stock Up 0.7%

Putnam Managed stock opened at $6.32 on Wednesday. The stock has a 50-day simple moving average of $6.30 and a 200 day simple moving average of $6.18. Putnam Managed has a 12-month low of $5.66 and a 12-month high of $6.52.

Putnam Managed Announces Dividend

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

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.