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PMM

Franklin Managed Municipal Income Trust
PMM

66 hedge funds and large institutions have $49.1M invested in Franklin Managed Municipal Income Trust in 2016 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 20 increasing their positions, 15 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

33% more repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 15

20% more first-time investments, than exits

New positions opened: 6 | Existing positions closed: 5

5% more capital invested

Capital invested by funds: $46.9M → $49.1M (+$2.25M)

0.1% more ownership

Funds ownership: 11.46% → 11.55% (+0.1%)

1% less funds holding

Funds holding: 67 → 66 (-1)

Holders
66
Holders Change
-1
Holders Change %
-1.49%
% of All Funds
1.76%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.05%
New
6
Increased
20
Reduced
15
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LCM
Laurion Capital Management
New York
+$1.73M
2
PPA
Parametric Portfolio Associates
Washington
+$1.55M
3
RCM
Robinson Capital Management
Michigan
+$813K
4
VanEck Associates
VanEck Associates
New York
+$338K
5
HighTower Advisors
HighTower Advisors
Illinois
+$326K

Top Sellers

Rank Fund Capital Flow
1
SBIA
Sheaff Brock Investment Advisors
Indiana
-$2.3M
2
Morgan Stanley
Morgan Stanley
New York
-$704K
3
LCM
Landscape Capital Management
New Jersey
-$505K
4
AA
AQR Arbitrage
Connecticut
-$343K
5
KIM
Karpus Investment Management
New York
-$339K
Name Holding Trade Value Shares
Change 		Change in
Stake
CAN
26
Cetera Advisor Networks
California
$313K – – –
Cambridge Investment Research Advisors
27
Cambridge Investment Research Advisors
Iowa
$294K +$150K +20,140 +110%
FAAS
28
First Allied Advisory Services
California
$281K +$19.7K +2,634 +8%
WS
29
Wedbush Securities
California
$273K +$24.6K +3,297 +10%
SBIA
30
Sheaff Brock Investment Advisors
Indiana
$260K -$2.3M -307,451 -90%
PAM
31
Peak Asset Management
Colorado
$251K – – –
WFI
32
West Family Investments
California
$251K – – –
BRWA
33
B. Riley Wealth Advisors
Florida
$211K -$19.9K -2,662 -9%
TFCP
34
Twin Focus Capital Partners
Massachusetts
$184K – – –
CRC
35
Curi RMB Capital
Illinois
$178K -$77.8K -10,415 -31%
ICOA
36
Investment Centers of America
North Dakota
$165K – – –
MAM
37
Marquette Asset Management
Minnesota
$160K – – –
HCM
38
Hollencrest Capital Management
California
$155K +$151K +20,264 New
GHAM
39
Gilman Hill Asset Management
Connecticut
$153K – – –
CWM
40
Concert Wealth Management
California
$149K – – –
SWP
41
Stratos Wealth Partners
Ohio
$143K +$582 +78 +0.4%
ACI
42
Alpha Cubed Investments
California
$125K – – –
LTFS
43
Ladenburg Thalmann Financial Services
Florida
$116K +$1.18K +158 +1%
PNC Financial Services Group
44
PNC Financial Services Group
Pennsylvania
$104K +$4.68K +627 +5%
RAM
45
Riggs Asset Management
Pennsylvania
$102K – – –
CCB
46
Cutter & Co Brokerage
Missouri
$101K – – –
TC
47
TFS Capital
Pennsylvania
$99K +$96.2K +12,887 New
RJT
48
Raymond James Trust
Florida
$87K – – –
LCM
49
Landscape Capital Management
New Jersey
$80K -$505K -67,677 -87%
JMPWA
50
JP Morgan Private Wealth Advisors
California
$78K +$76.1K +10,200 New
1
2
3

PMM Hedge Fund Activity: Q1 2016 in Review

66 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q1 2016, worth a combined $49.1M — up 4.8% from $46.9M a quarter earlier.

Buyers outnumbered sellers: 6 funds opened new PMM positions and 5 closed out — a net gain of 1 holder — while 20 added to existing stakes and 15 trimmed.

The largest buyer was Laurion Capital Management, adding an estimated $1.73M. The largest seller was Sheaff Brock Investment Advisors, cutting an estimated $2.3M.

  • 66 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q1 2016, down from 67 in Q4 2015.
  • Funds reported $49.1M of Franklin Managed Municipal Income Trust stock for Q1 2016, up 4.8% quarter-over-quarter.
  • 6 funds opened new Franklin Managed Municipal Income Trust positions in Q1 2016 and 5 closed out, a net change of +1 holder.
  • The largest Franklin Managed Municipal Income Trust buyer in Q1 2016 was Laurion Capital Management, an estimated $1.73M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q1 2016 was Sheaff Brock Investment Advisors, an estimated $2.3M sold.

Based on aggregated 13F filings for Q1 2016.