Putnam Managed (NYSE:PMM - Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 38,745 shares, a drop of 45.7% from the March 15th total of 71,396 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily trading volume, of 93,077 shares, the days-to-cover ratio is presently 0.4 days.

Putnam Managed Trading Down 0.2%

Shares of NYSE PMM traded down $0.02 during midday trading on Monday, hitting $6.21. The company's stock had a trading volume of 82,820 shares, compared to its average volume of 109,819. The business's fifty day simple moving average is $6.26 and its two-hundred day simple moving average is $6.19. Putnam Managed has a 1 year low of $5.70 and a 1 year high of $6.52.

Putnam Managed Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a $0.0265 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 5.1%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in Putnam Managed in the fourth quarter worth approximately $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Putnam Managed during the fourth quarter worth approximately $45,000. Nomura Holdings Inc. acquired a new position in shares of Putnam Managed in the 2nd quarter valued at $60,000. WealthCare Investment Partners LLC acquired a new position in shares of Putnam Managed in the 3rd quarter valued at $61,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Putnam Managed in the 4th quarter valued at $63,000. Hedge funds and other institutional investors own 13.54% of the company's stock.

About Putnam Managed

(Get Free Report)

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.

See Also

• Five stocks we like better than Putnam Managed

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Putnam Managed Right Now?

Before you consider Putnam Managed, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Putnam Managed wasn't on the list.

While Putnam Managed currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here