Putnam Managed (NYSE:PMM) Sees Large Increase in Short Interest

Putnam Managed (NYSE:PMM) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 61,814 shares, an increase of 206.5% from the June 15th total of 20,168 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 94,554 shares, the short-interest ratio is presently 0.7 days.

Putnam Managed Stock Down 0.6%

PMM stock traded down $0.04 during mid-day trading on Monday, hitting $6.49. The company had a trading volume of 38,691 shares, compared to its average volume of 103,017. Putnam Managed has a 12-month low of $5.77 and a 12-month high of $6.55. The company has a 50-day moving average price of $6.31 and a 200 day moving average price of $6.27.

Putnam Managed Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.033 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%.

Institutional Investors Weigh In On Putnam Managed

A number of hedge funds have recently made changes to their positions in PMM. International Assets Investment Management LLC bought a new position in Putnam Managed during the fourth quarter valued at approximately $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Putnam Managed in the 4th quarter worth approximately $45,000. Nomura Holdings Inc. purchased a new stake in shares of Putnam Managed during the 2nd quarter worth approximately $60,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Putnam Managed during the 4th quarter worth approximately $63,000. Finally, Virtu Financial LLC bought a new position in shares of Putnam Managed during the 3rd quarter valued at approximately $69,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

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.