Short Interest in Putnam Managed (NYSE:PMM) Expands By 206.5%

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Putnam Managed by 1.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,111,767 shares of the company’s stock worth $6,971,000 after purchasing an additional 15,203 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Putnam Managed by 78.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,009,350 shares of the company’s stock valued at $6,329,000 after buying an additional 444,374 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Putnam Managed by 29.9% during the fourth quarter. Advisors Asset Management Inc. now owns 867,048 shares of the company’s stock valued at $5,436,000 after buying an additional 199,831 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Putnam Managed by 4.1% during the third quarter. Raymond James Financial Inc. now owns 548,110 shares of the company’s stock valued at $3,311,000 after buying an additional 21,509 shares during the period. Finally, Invesco Ltd. boosted its position in Putnam Managed by 23.1% during the fourth quarter. Invesco Ltd. now owns 417,901 shares of the company’s stock worth $2,620,000 after acquiring an additional 78,533 shares during the last quarter. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Price Performance

PMM stock traded up $0.09 on Wednesday, reaching $6.57. The company had a trading volume of 7,064 shares, compared to its average volume of 102,831. The company’s fifty day moving average is $6.32 and its 200 day moving average is $6.27. Putnam Managed has a 1 year low of $5.77 and a 1 year high of $6.57.

Putnam Managed Announces Dividend

The business 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 $0.033 dividend. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Monday, August 24th.

About Putnam Managed

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.