Putnam Managed (NYSE:PMM) Short Interest Up 215.9% in May

Putnam Managed (NYSE:PMM) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 94,436 shares, an increase of 215.9% from the April 30th total of 29,892 shares. Based on an average trading volume of 114,814 shares, the short-interest ratio is currently 0.8 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Trading of Putnam Managed

Institutional investors and hedge funds have recently modified their holdings of the business. G2 Capital Management LLC OH bought a new stake in shares of Putnam Managed during the 4th quarter worth $673,000. Hennion & Walsh Asset Management Inc. lifted its stake in 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 purchasing an additional 444,374 shares during the last quarter. WealthBridge Capital Management LLC lifted its stake in Putnam Managed by 9.5% in the 4th 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 during the last quarter. Readystate Asset Management LP bought a new position in Putnam Managed in the 3rd quarter valued at approximately $94,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Putnam Managed in the 2nd quarter valued at approximately $110,000. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Stock Up 0.1%

Shares of Putnam Managed stock opened at $6.27 on Friday. The company has a 50 day moving average of $6.18 and a 200-day moving average of $6.22. Putnam Managed has a 1-year low of $5.77 and a 1-year high of $6.52.

Putnam Managed Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.033 per share. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Monday, August 24th.

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.