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PMM

Franklin Managed Municipal Income Trust
PMM

61 hedge funds and large institutions have $39.4M invested in Franklin Managed Municipal Income Trust in 2016 Q2 according to their latest regulatory filings, with 9 funds opening new positions, 19 increasing their positions, 12 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

58% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 12

2.74% less ownership

Funds ownership: 11.55% → 8.82% (-2.7%)

8% less funds holding

Funds holding: 66 → 61 (-5)

20% less capital invested

Capital invested by funds: $49.1M → $39.4M (-$9.76M)

36% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 14

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
61
Holders Change
-5
Holders Change %
-7.58%
% of All Funds
1.63%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
9
Increased
19
Reduced
12
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
GC
Guggenheim Capital
Illinois
+$2.59M
2
AAM
Advisors Asset Management
Colorado
+$1.1M
3
Ameriprise
Ameriprise
Minnesota
+$439K
4
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$340K
5
UCFA
United Capital Financial Advisors
Texas
+$335K

Top Sellers

Rank Fund Capital Flow
1
PPA
Parametric Portfolio Associates
Washington
-$11.2M
2
LCM
Laurion Capital Management
New York
-$3.14M
3
Morgan Stanley
Morgan Stanley
New York
-$875K
4
OWM
Orgel Wealth Management
Wisconsin
-$704K
5
LPL Financial
LPL Financial
California
-$469K
Name Holding Trade Value Shares
Change 		Change in
Stake
WS
26
Wedbush Securities
California
$291K +$3.65K +465 +1%
SBIA
27
Sheaff Brock Investment Advisors
Indiana
$269K -$4.71K -600 -2%
PAM
28
Peak Asset Management
Colorado
$263K – – –
FAAS
29
First Allied Advisory Services
California
$262K -$31.4K -4,000 -11%
IA
30
IFP Advisors
Florida
$238K +$233K +29,663 New
BRWA
31
B. Riley Wealth Advisors
Florida
$225K +$2.1K +268 +1%
TFCP
32
Twin Focus Capital Partners
Massachusetts
$193K – – –
AG
33
Advisor Group
Arizona
$188K +$184K +23,500 New
ICOA
34
Investment Centers of America
North Dakota
$173K – – –
CWM
35
Concert Wealth Management
California
$173K +$18K +2,291 +12%
MAM
36
Marquette Asset Management
Minnesota
$168K – – –
HCM
37
Hollencrest Capital Management
California
$163K – – –
GHAM
38
Gilman Hill Asset Management
Connecticut
$161K – – –
EAM
39
Evanson Asset Management
California
$142K +$139K +17,682 New
LTFS
40
Ladenburg Thalmann Financial Services
Florida
$124K +$1.24K +158 +1%
SWP
41
Stratos Wealth Partners
Ohio
$119K -$31.4K -4,009 -21%
PNC Financial Services Group
42
PNC Financial Services Group
Pennsylvania
$119K +$9.69K +1,236 +9%
RAM
43
Riggs Asset Management
Pennsylvania
$107K – – –
RJT
44
Raymond James Trust
Florida
$91K – – –
MF
45
Magnetar Financial
Illinois
$91K +$88.6K +11,303 New
SI
46
SII Investments
Wisconsin
$87K +$85.3K +10,872 New
US Bancorp
47
US Bancorp
Minnesota
$70K +$11.8K +1,500 +21%
Deutsche Bank
48
Deutsche Bank
Germany
$44K – – –
EWM
49
Evercore Wealth Management
New York
$27K – – –
WA
50
WFG Advisors
Texas
$23K – – –
1
2
3

PMM Hedge Fund Activity: Q2 2016 in Review

61 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q2 2016, worth a combined $39.4M — down 20% from $49.1M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of PMM and 9 opened new positions — a net loss of 5 holders — while 12 trimmed existing stakes and 19 added.

The largest buyer was Guggenheim Capital, adding an estimated $2.59M. The largest seller was Parametric Portfolio Associates, exiting entirely with an estimated $11.2M sold.

  • 61 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q2 2016, down from 66 in Q1 2016.
  • Funds reported $39.4M of Franklin Managed Municipal Income Trust stock for Q2 2016, down 20% quarter-over-quarter.
  • 9 funds opened new Franklin Managed Municipal Income Trust positions in Q2 2016 and 14 closed out, a net change of -5 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q2 2016 was Guggenheim Capital, an estimated $2.59M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q2 2016 was Parametric Portfolio Associates, an estimated $11.2M sold.

Based on aggregated 13F filings for Q2 2016.