Putnam Managed (NYSE:PMM) Short Interest Up 82.9% in July

Putnam Managed (NYSE:PMM) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 113,037 shares, an increase of 82.9% from the June 30th total of 61,814 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 89,198 shares, the short-interest ratio is currently 1.3 days.

Putnam Managed Price Performance

Putnam Managed stock traded down $0.02 during midday trading on Friday, reaching $6.25. The stock had a trading volume of 231,708 shares, compared to its average volume of 101,781. The stock’s 50-day simple moving average is $6.37 and its 200 day simple moving average is $6.29. Putnam Managed has a twelve month low of $5.77 and a twelve month high of $6.60.

Putnam Managed Announces Dividend

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 issued a $0.033 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Putnam Managed

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Putnam Managed in the fourth quarter valued at approximately $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Putnam Managed during the fourth quarter worth approximately $45,000. Nomura Holdings Inc. purchased a new stake in Putnam Managed during the second quarter worth approximately $60,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Putnam Managed in the fourth quarter worth $63,000. Finally, UMB Bank n.a. acquired a new stake in shares of Putnam Managed in the fourth quarter worth $70,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

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.