Putnam Managed (NYSE:PMM) Short Interest Update

Putnam Managed (NYSE:PMM) saw a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 35,887 shares, a growth of 190.3% from the January 29th total of 12,361 shares. Based on an average daily trading volume, of 96,978 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 96,978 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PMM. 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 valued at $72,000 after buying an additional 1,873 shares in the last quarter. WealthBridge Capital Management LLC boosted its holdings in Putnam Managed by 9.5% during the 4th quarter. WealthBridge Capital Management LLC now owns 34,000 shares of the company’s stock valued at $213,000 after acquiring an additional 2,950 shares during the period. Wedbush Securities Inc. grew its position in 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 acquiring an additional 2,960 shares in the last quarter. Van ECK Associates Corp increased its stake in Putnam Managed by 1.6% during the third quarter. Van ECK Associates Corp now owns 280,580 shares of the company’s stock worth $1,695,000 after purchasing an additional 4,283 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Putnam Managed during the fourth quarter worth about $36,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Price Performance

Shares of PMM traded up $0.03 during trading on Friday, reaching $6.45. 101,942 shares of the company traded hands, compared to its average volume of 90,851. The stock has a 50-day simple moving average of $6.27 and a 200-day simple moving average of $6.13. Putnam Managed has a twelve month low of $5.66 and a twelve month high of $6.45.

Putnam Managed Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be issued a $0.0265 dividend. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, May 21st.

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.