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PMM

Franklin Managed Municipal Income Trust
PMM

67 hedge funds and large institutions have $46.9M invested in Franklin Managed Municipal Income Trust in 2015 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 26 increasing their positions, 7 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

271% more repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 7

80% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 5

13% more capital invested

Capital invested by funds: $41.5M → $46.9M (+$5.39M)

6% more funds holding

Funds holding: 63 → 67 (+4)

1.02% more ownership

Funds ownership: 10.44% → 11.46% (+1%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
67
Holders Change
+4
Holders Change %
+6.35%
% of All Funds
1.76%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
9
Increased
26
Reduced
7
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LCM
Laurion Capital Management
New York
+$1.3M
2
PPA
Parametric Portfolio Associates
Washington
+$1.22M
3
GC
Guggenheim Capital
Illinois
+$713K
4
LPL Financial
LPL Financial
California
+$693K
5
Morgan Stanley
Morgan Stanley
New York
+$325K

Top Sellers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
-$4.02M
2
LSA
Liberty Street Advisors
New York
-$2M
3
MIM
Macroview Investment Management
Maryland
-$552K
4
AA
AQR Arbitrage
Connecticut
-$397K
5
KIM
Karpus Investment Management
New York
-$371K
Name Holding Trade Value Shares
Change 		Change in
Stake
Creative Planning
26
Creative Planning
Kansas
$365K +$1.51K +208 +0.4%
AA
27
AQR Arbitrage
Connecticut
$343K -$397K -54,820 -54%
KIM
28
Karpus Investment Management
New York
$339K -$371K -51,242 -53%
CAN
29
Cetera Advisor Networks
California
$302K +$145K +19,960 +95%
TFMS
30
Trust & Fiduciary Management Services
Massachusetts
$257K -$32.6K -4,500 -11%
FAAS
31
First Allied Advisory Services
California
$250K +$529 +73 +0.2%
CRC
32
Curi RMB Capital
Illinois
$248K +$244K +33,710 New
PAM
33
Peak Asset Management
Colorado
$241K – – –
WFI
34
West Family Investments
California
$241K – – –
WS
35
Wedbush Securities
California
$238K +$3.49K +482 +2%
BRWA
36
B. Riley Wealth Advisors
Florida
$223K +$2.04K +281 +0.9%
TFCP
37
Twin Focus Capital Partners
Massachusetts
$177K – – –
ICOA
38
Investment Centers of America
North Dakota
$159K – – –
MAM
39
Marquette Asset Management
Minnesota
$154K – – –
GHAM
40
Gilman Hill Asset Management
Connecticut
$147K – – –
CWM
41
Concert Wealth Management
California
$143K – – –
SWP
42
Stratos Wealth Partners
Ohio
$137K +$30K +4,135 +28%
Cambridge Investment Research Advisors
43
Cambridge Investment Research Advisors
Iowa
$134K -$42.5K -5,860 -24%
ACI
44
Alpha Cubed Investments
California
$121K – – –
IA
45
IFP Advisors
Florida
$121K +$119K +16,463 New
Susquehanna International Group
46
Susquehanna International Group
Pennsylvania
$121K +$119K +16,489 New
LTFS
47
Ladenburg Thalmann Financial Services
Florida
$111K +$3.56K +492 +3%
RAM
48
Riggs Asset Management
Pennsylvania
$98K – – –
CCB
49
Cutter & Co Brokerage
Missouri
$97K – – –
PNC Financial Services Group
50
PNC Financial Services Group
Pennsylvania
$95K +$4.28K +590 +5%
1
2
3

PMM Hedge Fund Activity: Q4 2015 in Review

67 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q4 2015, worth a combined $46.9M — up 13% from $41.5M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new PMM positions and 5 closed out — a net gain of 4 holders — while 26 added to existing stakes and 7 trimmed.

The largest buyer was Laurion Capital Management, opening a new position worth an estimated $1.3M. The largest seller was Bank of America, cutting an estimated $4.02M.

  • 67 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q4 2015, up from 63 in Q3 2015.
  • Funds reported $46.9M of Franklin Managed Municipal Income Trust stock for Q4 2015, up 13% quarter-over-quarter.
  • 9 funds opened new Franklin Managed Municipal Income Trust positions in Q4 2015 and 5 closed out, a net change of +4 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q4 2015 was Laurion Capital Management, an estimated $1.3M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q4 2015 was Bank of America, an estimated $4.02M sold.

Based on aggregated 13F filings for Q4 2015.