Short Interest in Putnam Managed (NYSE:PMM) Increases By 24.7%

Putnam Managed (NYSE:PMM) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 36,990 shares, an increase of 24.7% from the December 15th total of 29,660 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 150,490 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 150,490 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Putnam Managed

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its position in Putnam Managed by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 34,381 shares of the company’s stock valued at $211,000 after acquiring an additional 10,014 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Putnam Managed during the second quarter valued at $183,000. XML Financial LLC raised its stake in shares of Putnam Managed by 149.4% during the second quarter. XML Financial LLC now owns 57,600 shares of the company’s stock valued at $344,000 after purchasing an additional 34,500 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in Putnam Managed in the 2nd quarter valued at about $72,000. Finally, Duncker Streett & Co. Inc. acquired a new position in Putnam Managed during the 2nd quarter valued at about $42,000. 13.54% of the stock is currently owned by institutional investors and hedge funds.

Putnam Managed Stock Performance

PMM stock traded down $0.02 during mid-day trading on Tuesday, reaching $6.24. The company had a trading volume of 25,942 shares, compared to its average volume of 81,306. Putnam Managed has a one year low of $5.66 and a one year high of $6.44. The stock’s 50-day simple moving average is $6.18 and its two-hundred day simple moving average is $6.05.

Putnam Managed Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be given a $0.0265 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 5.1%.

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.