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PMM

Franklin Managed Municipal Income Trust
PMM

66 hedge funds and large institutions have $40.4M invested in Franklin Managed Municipal Income Trust in 2016 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 22 increasing their positions, 14 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 8

57% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 14

14% more funds holding

Funds holding: 58 → 66 (+8)

0.79% more ownership

Funds ownership: 9.49% → 10.28% (+0.79%)

4% less capital invested

Capital invested by funds: $42M → $40.4M (-$1.53M)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
66
Holders Change
+8
Holders Change %
+13.79%
% of All Funds
1.65%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
16
Increased
22
Reduced
14
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
+$946K
2
Cohen & Steers
Cohen & Steers
New York
+$764K
3
LCM
Landscape Capital Management
New Jersey
+$762K
4
KIM
Karpus Investment Management
New York
+$538K
5
Morgan Stanley
Morgan Stanley
New York
+$412K

Top Sellers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$1.55M
2
VanEck Associates
VanEck Associates
New York
-$397K
3
GC
Guggenheim Capital
Illinois
-$335K
4
CRC
Curi RMB Capital
Illinois
-$266K
5
CWM
Concert Wealth Management
California
-$238K
Name Holding Trade Value Shares
Change 		Change in
Stake
Commonwealth Equity Services
26
Commonwealth Equity Services
Massachusetts
$369K -$11.6K -1,584 -3%
Creative Planning
27
Creative Planning
Kansas
$360K +$5.17K +704 +1%
PAM
28
Peak Asset Management
Colorado
$357K +$130K +17,728 +54%
Cambridge Investment Research Advisors
29
Cambridge Investment Research Advisors
Iowa
$356K +$18.8K +2,561 +5%
HighTower Advisors
30
HighTower Advisors
Illinois
$319K +$15 +2 +0%
AG
31
Advisor Group
Arizona
$318K +$136K +18,500 +70%
CAN
32
Cetera Advisor Networks
California
$295K -$137K -18,613 -31%
WS
33
Wedbush Securities
California
$262K +$3.53K +480 +1%
FAAS
34
First Allied Advisory Services
California
$231K – – –
BRWA
35
B. Riley Wealth Advisors
Florida
$201K +$2.11K +287 +1%
VKH
36
Virtu KCG Holdings
New York
$177K +$31.9K +4,341 +21%
TFCP
37
Twin Focus Capital Partners
Massachusetts
$170K – – –
ICOA
38
Investment Centers of America
North Dakota
$167K +$14.7K +2,000 +9%
Squarepoint
39
Squarepoint
New York
$163K +$170K +23,080 New
MAM
40
Marquette Asset Management
Minnesota
$147K – – –
SFS
41
Sowell Financial Services
Arkansas
$143K +$142K +19,400 New
GHAM
42
Gilman Hill Asset Management
Connecticut
$141K – – –
SWP
43
Stratos Wealth Partners
Ohio
$141K +$44.1K +6,000 +43%
LTFS
44
Ladenburg Thalmann Financial Services
Florida
$135K +$17.8K +2,424 +15%
TSS
45
Two Sigma Securities
New York
$129K +$134K +18,301 New
IA
46
IFP Advisors
Florida
$116K -$97K -13,200 -44%
Millennium Management
47
Millennium Management
New York
$107K +$111K +15,092 New
TWA
48
TCI Wealth Advisors
Arizona
$106K +$110K +15,000 New
WAM
49
Weiss Asset Management
Massachusetts
$105K +$109K +14,877 New
RAM
50
Riggs Asset Management
Pennsylvania
$95K – – –
1
2
3

PMM Hedge Fund Activity: Q4 2016 in Review

66 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q4 2016, worth a combined $40.4M — down 3.6% from $42M a quarter earlier.

Buyers outnumbered sellers: 16 funds opened new PMM positions and 8 closed out — a net gain of 8 holders — while 22 added to existing stakes and 14 trimmed.

The largest buyer was Invesco, opening a new position worth an estimated $946K. The largest seller was Envestnet Asset Management, exiting entirely with an estimated $1.55M sold.

  • 66 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q4 2016, up from 58 in Q3 2016.
  • Funds reported $40.4M of Franklin Managed Municipal Income Trust stock for Q4 2016, down 3.6% quarter-over-quarter.
  • 16 funds opened new Franklin Managed Municipal Income Trust positions in Q4 2016 and 8 closed out, a net change of +8 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q4 2016 was Invesco, an estimated $946K added.
  • The largest Franklin Managed Municipal Income Trust seller in Q4 2016 was Envestnet Asset Management, an estimated $1.55M sold.

Based on aggregated 13F filings for Q4 2016.