Putnam Managed Municipal Income (PMM)

• Market cap: $290M
• 1 day: -0.94%
• 5 days: -0.47%
• 1 month: 0.80%
• 3 months: -0.16%
• 6 months: 5.32%
• Year to date: 4.28%
• 1 year: 8.21%
• 5 years: -21.56%
• 10 years: -11.47%

About: Putnam Managed Municipal Income Trust is a closed-end management investment company. Its investment objective is to seek a high level of current income exempt from federal income tax by investing in a diversified portfolio of tax-exempt municipal securities. The Fund invests in various sectors such as healthcare, retirement community, private higher education, housing-backed, essential service utilities, and state-backed bonds.

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

140% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 5

8% more funds holding

Funds holding: 84 [Q2] → 91 (+7) [Q3]

5% more capital invested

Capital invested by funds: $44.2M [Q2] → $46.4M (+$2.18M) [Q3]

0.13% more ownership

Funds ownership: 15.38% [Q2] → 15.51% (+0.13%) [Q3]

14% less repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 22