Putnam Managed (NYSE:PMM) Short Interest Down 38.7% in August

Putnam Managed (NYSE:PMM) saw a significant decline in short interest in August. As of August 14th, there was short interest totaling 68,195 shares, a decline of 38.7% from the July 30th total of 111,257 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 106,833 shares, the short-interest ratio is presently 0.6 days.

Putnam Managed Trading Down 0.2%

Shares of NYSE:PMM opened at $6.23 on Monday. Putnam Managed has a 1 year low of $5.80 and a 1 year high of $6.60. The firm has a fifty day moving average price of $6.39 and a 200 day moving average price of $6.30.

Putnam Managed Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.033 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

Institutional Investors Weigh In On Putnam Managed

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in Putnam Managed by 1.4% during the fourth 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 period. Advisors Asset Management Inc. raised its position in shares of Putnam Managed by 29.9% in the fourth quarter. Advisors Asset Management Inc. now owns 867,048 shares of the company’s stock valued at $5,436,000 after purchasing an additional 199,831 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Putnam Managed by 4.1% in the third quarter. Raymond James Financial Inc. now owns 548,110 shares of the company’s stock worth $3,311,000 after buying an additional 21,509 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Putnam Managed by 23.1% in the fourth quarter. Invesco Ltd. now owns 417,901 shares of the company’s stock worth $2,620,000 after buying an additional 78,533 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Putnam Managed by 10.5% in the second quarter. Van ECK Associates Corp now owns 399,438 shares of the company’s stock worth $2,612,000 after buying an additional 38,113 shares during the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

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.