Putnam Managed (NYSE:PMM) Short Interest Up 215.9% in May

Putnam Managed (NYSE:PMM) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 94,436 shares, a growth of 215.9% from the April 30th total of 29,892 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 114,814 shares, the days-to-cover ratio is currently 0.8 days.

Putnam Managed Trading Up 0.1%

Putnam Managed stock opened at $6.27 on Friday. Putnam Managed has a 12 month low of $5.77 and a 12 month high of $6.52. The stock has a 50-day moving average price of $6.18 and a two-hundred day moving average price of $6.22.

Putnam Managed Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a dividend of $0.033 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 6.3%.

Hedge Funds Weigh In On Putnam Managed

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in shares of Putnam Managed during the fourth quarter valued at $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Putnam Managed during the fourth quarter valued at $45,000. Nomura Holdings Inc. bought a new position in shares of Putnam Managed during the second quarter worth about $60,000. WealthCare Investment Partners LLC bought a new position in shares of Putnam Managed during the third quarter worth about $61,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Putnam Managed during the fourth quarter worth about $63,000. Institutional investors own 13.54% of the company’s stock.

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.