Putnam Managed Municipal Income (NYSE:PMM) Trading Up – Short Interest decreased by -27.56%


Investors are feeling more bullish on shares of the company of late as inferred by the downtick in short interest. The firm had a fall in short interest from August 15, 2017 to August 31, 2017 of -27.56%. Short shares fell from 41,065 to 29,746 over that timeframe.

Here are a few substantial investment firms who have updated their positions. Robinson Capital Management, LLC reduced its ownership by shedding 55,010 shares a decrease of 8.9% in the quarter. Robinson Capital Management, LLC now controls 564,760 shares worth $4,241,000. The total value of its holdings decreased 5.8%. As of the end of the quarter Sheaff Brock Investment Advisors, LLC had bought a total of 43,675 shares growing its stake by 127.1%. The value of the investment in (PMM) went from $250,000 to $586,000 a change of $336,000 quarter over quarter.

As of quarter end Stratos Wealth Partners, Ltd. had disposed of 160 shares trimming its position 0.8%. The value of the investment in PMM increased from $150,000 to $154,000 a change of 2.7% for the reporting period. As of the end of the quarter Ubs Group Ag had bought 7,066 shares growing its holdings by 9,548.6%. The value of the investment in Putnam Managed Municipal Income increased from $1,000 to $54,000 increasing 5,300.0% since the last quarter.

The company is trading up by 0.20%% since yesterday’s close of 7.65. The stock is trading at $7.67 marginally over the 50 day moving average which is $7.61 and which is just a bit higher than the 200 day moving average of $7.47. The 50 day moving average went up $0.05 or +0.7040% and the 200 day average moved up $0.19.

Putnam Managed Municipal Income Trust is a closed-end fund. The Fund seeks current tax-free income by investing primarily in levered portfolio of municipal bonds. The Fund pursues its goal by investing in a diversified portfolio of tax-exempt municipal securities. The Fund uses investment leverage by issuing preferred shares. The Fund?s leverage offers the potential for higher returns, but also involves increased risk. The Fund provides monthly dividend and trades on secondary market. The Fund?s investment return, net asset value, and market price fluctuate and the investors may have gain or loss when shares are sold. The Fund?s performance assumes reinvestment of distributions and does not account for taxes. The Fund is subject to maturity detail including only cash bonds and cash equivalents. The fund uses leverage, which involves risk and may increase the volatility of the fund?s net asset value. The fund?s shares trade on a stock exchange at market prices, which may be lower than the fund?s net asset value. The Barclays Municipal Bond Index is an unmanaged index of long-term fixed-rate investment-grade tax exempt bonds and the investors cannot invest directly in an index. Lower-rated bonds offer higher yields in return for more risk. The bond investments are subject to interest-rate risk of bond prices falling when interest rates rise and credit risk of an issuer defaulting on interest and principal payments. Interest-rate risk is greater for longer-term bonds, and credit risk is greater for below-investment-grade bonds..