Franklin Managed Municipal Income Trust
PMM
59 hedge funds and large institutions have $27.3M invested in Franklin Managed Municipal Income Trust in 2013 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 15 increasing their positions, 17 reducing their positions, and 5 closing their positions.
80% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 5
8% more capital invested
Capital invested by funds: $25.2M → $27.3M (+$2.06M)
5% more funds holding
Funds holding: 56 → 59 (+3)
0.9% more ownership
Funds ownership: 6.05% → 6.95% (+0.9%)
12% less repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 17
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FTCM
Fir Tree Capital Management
New York
|
+$2.14M |
| 2 |
Morgan Stanley
New York
|
+$1.44M |
| 3 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$689K |
| 4 |
ACM
Akanthos Capital Management
Woodland Hills,
California
|
+$677K |
| 5 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$562K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
-$1.87M |
| 2 |
DA
Doliver Advisors
Houston,
Texas
|
-$482K |
| 3 |
COLIM
City of London Investment Management
London,
United Kingdom
|
-$254K |
| 4 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$226K |
| 5 |
Bank of New York Mellon
New York
|
-$224K |
PMM Hedge Fund Activity: Q3 2013 in Review
59 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q3 2013, worth a combined $27.3M — up 8.2% from $25.2M a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new PMM positions and 5 closed out — a net gain of 4 holders — while 15 added to existing stakes and 17 trimmed.
The largest buyer was Fir Tree Capital Management, opening a new position worth an estimated $2.14M. The largest seller was Invesco, cutting an estimated $1.87M.
- 59 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q3 2013, up from 56 in Q2 2013.
- Funds reported $27.3M of Franklin Managed Municipal Income Trust stock for Q3 2013, up 8.2% quarter-over-quarter.
- 9 funds opened new Franklin Managed Municipal Income Trust positions in Q3 2013 and 5 closed out, a net change of +4 holders.
- The largest Franklin Managed Municipal Income Trust buyer in Q3 2013 was Fir Tree Capital Management, an estimated $2.14M added.
- The largest Franklin Managed Municipal Income Trust seller in Q3 2013 was Invesco, an estimated $1.87M sold.
Based on aggregated 13F filings for Q3 2013.