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PMM

Franklin Managed Municipal Income Trust
PMM

78 hedge funds and large institutions have $47.5M invested in Franklin Managed Municipal Income Trust in 2018 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 19 increasing their positions, 19 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 8

3% more funds holding

Funds holding: 76 → 78 (+2)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 19

0.09% less ownership

Funds ownership: 12.89% → 12.8% (-0.09%)

2% less capital invested

Capital invested by funds: $48.6M → $47.5M (-$1.13M)

Holders
78
Holders Change
+2
Holders Change %
+2.63%
% of All Funds
1.78%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
10
Increased
19
Reduced
19
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$1.34M
2
COLIM
City of London Investment Management
United Kingdom
+$692K
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$276K
4
RCM
Robinson Capital Management
Michigan
+$274K
5
AG
Advisor Group
Arizona
+$208K

Top Sellers

Rank Fund Capital Flow
1
Ameriprise
Ameriprise
Minnesota
-$852K
2
AAM
Advisors Asset Management
Colorado
-$712K
3
KIM
Karpus Investment Management
New York
-$579K
4
Invesco
Invesco
Georgia
-$551K
5
6M
6 Meridian
Kansas
-$503K
Name Holding Trade Value Shares
Change 		Change in
Stake
ICA
26
Infrastructure Capital Advisors
New York
$479K – – –
TFCP
27
Twin Focus Capital Partners
Massachusetts
$428K – – –
WS
28
Wedbush Securities
California
$386K – – –
TCM
29
Tradewinds Capital Management
Washington
$346K – – –
LTFS
30
Ladenburg Thalmann Financial Services
Florida
$344K -$167K -23,487 -32%
Cambridge Investment Research Advisors
31
Cambridge Investment Research Advisors
Iowa
$344K +$42.4K +5,985 +14%
QCIG
32
Quad-Cities Investment Group
Iowa
$271K -$5.32K -750 -2%
Susquehanna International Group
33
Susquehanna International Group
Pennsylvania
$269K +$276K +38,923 New
Commonwealth Equity Services
34
Commonwealth Equity Services
Massachusetts
$259K +$433 +61 +0.2%
NDSI
35
Newman Dignan & Sheerar Inc
Rhode Island
$256K +$4.42K +623 +2%
AA
36
AQR Arbitrage
Connecticut
$250K – – –
BRWA
37
B. Riley Wealth Advisors
Florida
$236K +$114K +16,123 +90%
KIM
38
Karpus Investment Management
New York
$220K -$579K -81,597 -72%
AA
39
Ancora Advisors
Ohio
$177K – – –
Creative Planning
40
Creative Planning
Kansas
$163K +$390 +55 +0.2%
CAN
41
Cetera Advisor Networks
California
$158K +$162K +22,900 New
GHAM
42
Gilman Hill Asset Management
Connecticut
$138K – – –
SWP
43
Stratos Wealth Partners
Ohio
$138K – – –
SFS
44
Sowell Financial Services
Arkansas
$134K – – –
TSS
45
Two Sigma Securities
New York
$134K +$137K +19,374 New
OC
46
Oppenheimer & Co
New York
$125K – – –
ALIONA
47
Allianz Life Insurance of North America
Minnesota
$124K +$34.3K +4,832 +37%
FAAS
48
First Allied Advisory Services
California
$122K -$21.3K -3,000 -15%
SBH
49
Segall Bryant & Hamill
Illinois
$107K – – –
ACI
50
Alpha Cubed Investments
California
$106K +$112K +15,767 New
1
2
3 4

PMM Hedge Fund Activity: Q3 2018 in Review

78 of the 4,374 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q3 2018, worth a combined $47.5M — down 2.3% from $48.6M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new PMM positions and 8 closed out — a net gain of 2 holders — while 19 added to existing stakes and 19 trimmed.

The largest buyer was Envestnet Asset Management, opening a new position worth an estimated $1.34M. The largest seller was Ameriprise, cutting an estimated $852K.

  • 78 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q3 2018, up from 76 in Q2 2018.
  • Funds reported $47.5M of Franklin Managed Municipal Income Trust stock for Q3 2018, down 2.3% quarter-over-quarter.
  • 10 funds opened new Franklin Managed Municipal Income Trust positions in Q3 2018 and 8 closed out, a net change of +2 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q3 2018 was Envestnet Asset Management, an estimated $1.34M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q3 2018 was Ameriprise, an estimated $852K sold.

Based on aggregated 13F filings for Q3 2018.