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PMM

Franklin Managed Municipal Income Trust
PMM

61 hedge funds and large institutions have $31.3M invested in Franklin Managed Municipal Income Trust in 2014 Q2 according to their latest regulatory filings, with 11 funds opening new positions, 16 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

120% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 5

23% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 13

11% more funds holding

Funds holding: 55 → 61 (+6)

10% more capital invested

Capital invested by funds: $28.4M → $31.3M (+$2.88M)

0.58% more ownership

Funds ownership: 7.16% → 7.75% (+0.58%)

Holders
61
Holders Change
+6
Holders Change %
+10.91%
% of All Funds
1.75%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
16
Reduced
13
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PPA
Parametric Portfolio Associates
Washington
+$1.93M
2
Morgan Stanley
Morgan Stanley
New York
+$839K
3
AAM
Advisors Asset Management
Colorado
+$802K
4
BRWA
B. Riley Wealth Advisors
Florida
+$371K
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$160K

Top Sellers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
-$1.13M
2
DLG
Daniel L. Goodwin
-$843K
3
Wells Fargo
Wells Fargo
California
-$145K
4
HK
Horizon Kinetics
New York
-$122K
5
CS
Credit Suisse
Switzerland
-$84K
Name Holding Trade Value Shares
Change 		Change in
Stake
WS
26
Wedbush Securities
California
$212K +$3.44K +481 +2%
NL
27
NWAM LLC
Washington
$202K -$5.33K -745 -3%
BA
28
Bridgewater Advisors
New York
$176K – – –
TFCP
29
Twin Focus Capital Partners
Massachusetts
$172K – – –
Bank of New York Mellon
30
Bank of New York Mellon
New York
$171K +$329 +46 +0.2%
GHAM
31
Gilman Hill Asset Management
Connecticut
$161K – – –
Envestnet Asset Management
32
Envestnet Asset Management
Illinois
$160K +$160K +22,326 New
MAM
33
Marquette Asset Management
Minnesota
$151K – – –
SCG
34
Strategic Capital Group
Washington
$136K +$136K +19,029 New
Creative Planning
35
Creative Planning
Kansas
$131K -$9.25K -1,293 -7%
LCM
36
Landscape Capital Management
New Jersey
$129K -$29.3K -4,095 -19%
HK
37
Horizon Kinetics
New York
$123K -$122K -17,070 -50%
Deutsche Bank
38
Deutsche Bank
Germany
$119K +$119K +16,600 New
TC
39
TFS Capital
Pennsylvania
$105K +$105K +14,707 New
UR
40
USCA RIA
Texas
$103K +$103K +14,381 New
CCB
41
Cutter & Co Brokerage
Missouri
$94K – – –
RJT
42
Raymond James Trust
Florida
$75K – – –
US Bancorp
43
US Bancorp
Minnesota
$51K – – –
AIG
44
American International Group
New York
$35.9K – – –
LTFS
45
Ladenburg Thalmann Financial Services
Florida
$32K – – –
OIA
46
Optimum Investment Advisors
Illinois
$19K +$19.3K +2,700 New
BAM
47
Brave Asset Management
New Jersey
$18K – – –
WA
48
WFG Advisors
Texas
$16K – – –
WEC
49
Winslow Evans & Crocker
Massachusetts
$14.7K – – –
DADC
50
D.A. Davidson & Co
Montana
$14K – – –
1
2
3

PMM Hedge Fund Activity: Q2 2014 in Review

61 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q2 2014, worth a combined $31.3M — up 10% from $28.4M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new PMM positions and 5 closed out — a net gain of 6 holders — while 16 added to existing stakes and 13 trimmed.

The largest buyer was Parametric Portfolio Associates, adding an estimated $1.93M. The largest seller was Invesco, cutting an estimated $1.13M.

  • 61 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q2 2014, up from 55 in Q1 2014.
  • Funds reported $31.3M of Franklin Managed Municipal Income Trust stock for Q2 2014, up 10% quarter-over-quarter.
  • 11 funds opened new Franklin Managed Municipal Income Trust positions in Q2 2014 and 5 closed out, a net change of +6 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q2 2014 was Parametric Portfolio Associates, an estimated $1.93M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q2 2014 was Invesco, an estimated $1.13M sold.

Based on aggregated 13F filings for Q2 2014.