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

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

Putnam Managed Stock Performance

Shares of PMM traded down $0.01 during trading hours on Friday, hitting $6.34. 113,476 shares of the company were exchanged, compared to its average volume of 108,540. The firm’s 50 day moving average is $6.23 and its 200-day moving average is $6.10. Putnam Managed has a 52 week low of $5.66 and a 52 week high of $6.44.

Putnam Managed Announces Dividend

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

Institutional Trading of Putnam Managed

A number of institutional investors and hedge funds have recently modified their holdings of PMM. Northwestern Mutual Wealth Management Co. increased its stake in Putnam Managed by 18.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 11,873 shares of the company’s stock valued at $72,000 after acquiring an additional 1,873 shares during the period. WealthBridge Capital Management LLC boosted its holdings in Putnam Managed by 9.5% during the fourth quarter. WealthBridge Capital Management LLC now owns 34,000 shares of the company’s stock valued at $213,000 after purchasing an additional 2,950 shares in the last quarter. Wedbush Securities Inc. grew its stake 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 valued at $92,000 after purchasing an additional 2,960 shares during the period. Van ECK Associates Corp grew its stake in shares of Putnam Managed by 1.6% in the 3rd 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 period. Finally, International Assets Investment Management LLC acquired a new position in shares of Putnam Managed in the 4th quarter worth approximately $36,000. 13.54% of the stock is currently owned by institutional investors and hedge funds.

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.