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PMM

Franklin Managed Municipal Income Trust
PMM

67 hedge funds and large institutions have $35.1M invested in Franklin Managed Municipal Income Trust in 2014 Q3 according to their latest regulatory filings, with 12 funds opening new positions, 19 increasing their positions, 13 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

200% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 4

46% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 13

12% more capital invested

Capital invested by funds: $31.3M → $35.1M (+$3.75M)

10% more funds holding

Funds holding: 61 → 67 (+6)

0.94% more ownership

Funds ownership: 7.75% → 8.68% (+0.94%)

Holders
67
Holders Change
+6
Holders Change %
+9.84%
% of All Funds
1.94%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
12
Increased
19
Reduced
13
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
DLG
Daniel L. Goodwin
+$851K
2
PPA
Parametric Portfolio Associates
Washington
+$818K
3
WAM
Wolverine Asset Management
Illinois
+$589K
4
AAM
Advisors Asset Management
Colorado
+$547K
5
Morgan Stanley
Morgan Stanley
New York
+$521K

Top Sellers

Rank Fund Capital Flow
1
BRWA
B. Riley Wealth Advisors
Florida
-$367K
2
GEM
Global Endowment Management
North Carolina
-$337K
3
NL
NWAM LLC
Washington
-$202K
4
Invesco
Invesco
Georgia
-$105K
5
TC
TFS Capital
Pennsylvania
-$105K
Name Holding Trade Value Shares
Change 		Change in
Stake
TFMS
26
Trust & Fiduciary Management Services
Massachusetts
$285K – – –
Commonwealth Equity Services
27
Commonwealth Equity Services
Massachusetts
$284K +$1.09K +155 +0.4%
WFI
28
West Family Investments
California
$232K – – –
LCM
29
Landscape Capital Management
New Jersey
$224K +$96.1K +13,673 +76%
UCFA
30
United Capital Financial Advisors
Texas
$217K +$216K +30,710 New
WS
31
Wedbush Securities
California
$213K +$3.3K +469 +2%
DA
32
Doliver Advisors
Texas
$179K +$178K +25,306 New
TFCP
33
Twin Focus Capital Partners
Massachusetts
$170K – – –
GHAM
34
Gilman Hill Asset Management
Connecticut
$159K – – –
MAM
35
Marquette Asset Management
Minnesota
$148K -$1.26K -180 -0.9%
NCM
36
Newgate Capital Management
Connecticut
$137K +$136K +19,417 New
Creative Planning
37
Creative Planning
Kansas
$136K +$6.82K +971 +5%
SCA
38
Strategic Capital Alternatives
United States
$135K +$134K +19,055 New
HK
39
Horizon Kinetics
New York
$120K -$1.41K -200 -1%
Deutsche Bank
40
Deutsche Bank
Germany
$117K – – –
VKH
41
Virtu KCG Holdings
New York
$117K +$117K +16,586 New
Bank of New York Mellon
42
Bank of New York Mellon
New York
$116K -$53.3K -7,588 -32%
Envestnet Asset Management
43
Envestnet Asset Management
Illinois
$111K -$47.1K -6,698 -30%
UR
44
USCA RIA
Texas
$102K – – –
RAM
45
Riggs Asset Management
Pennsylvania
$95K +$93.9K +13,368 New
CCB
46
Cutter & Co Brokerage
Missouri
$93K – – –
RJT
47
Raymond James Trust
Florida
$74K – – –
NPC
48
National Planning Corporation
California
$71K +$70.8K +10,075 New
US Bancorp
49
US Bancorp
Minnesota
$51K – – –
LTFS
50
Ladenburg Thalmann Financial Services
Florida
$45K +$12.9K +1,829 +40%
1
2
3

PMM Hedge Fund Activity: Q3 2014 in Review

67 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q3 2014, worth a combined $35.1M — up 12% from $31.3M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new PMM positions and 4 closed out — a net gain of 8 holders — while 19 added to existing stakes and 13 trimmed.

The largest buyer was Daniel L. Goodwin, opening a new position worth an estimated $851K. The largest seller was B. Riley Wealth Advisors, cutting an estimated $367K.

  • 67 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q3 2014, up from 61 in Q2 2014.
  • Funds reported $35.1M of Franklin Managed Municipal Income Trust stock for Q3 2014, up 12% quarter-over-quarter.
  • 12 funds opened new Franklin Managed Municipal Income Trust positions in Q3 2014 and 4 closed out, a net change of +8 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q3 2014 was Daniel L. Goodwin, an estimated $851K added.
  • The largest Franklin Managed Municipal Income Trust seller in Q3 2014 was B. Riley Wealth Advisors, an estimated $367K sold.

Based on aggregated 13F filings for Q3 2014.