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PMM

Franklin Managed Municipal Income Trust
PMM

73 hedge funds and large institutions have $37.5M invested in Franklin Managed Municipal Income Trust in 2019 Q3 according to their latest regulatory filings, with 7 funds opening new positions, 14 increasing their positions, 20 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

17% more first-time investments, than exits

New positions opened: 7 | Existing positions closed: 6

1% more funds holding

Funds holding: 72 → 73 (+1)

1.29% less ownership

Funds ownership: 12.19% → 10.9% (-1.3%)

18% less capital invested

Capital invested by funds: $45.6M → $37.5M (-$8.12M)

30% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 20

Holders
73
Holders Change
+1
Holders Change %
+1.39%
% of All Funds
1.6%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
7
Increased
14
Reduced
20
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$4.5M
2
Ameriprise
Ameriprise
Minnesota
+$443K
3
AWM
Altium Wealth Management
New York
+$341K
4
PFT
Providence First Trust
Arizona
+$260K
5
Invesco
Invesco
Georgia
+$234K

Top Sellers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
-$4.44M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$2.22M
3
UCFA
United Capital Financial Advisors
Texas
-$1.56M
4
GC
Guggenheim Capital
Illinois
-$855K
5
Morgan Stanley
Morgan Stanley
New York
-$550K
Name Holding Trade Value Shares
Change 		Change in
Stake
Commonwealth Equity Services
26
Commonwealth Equity Services
Massachusetts
$329K -$15.9K -2,014 -5%
QCIG
27
Quad-Cities Investment Group
Iowa
$315K +$3.57K +452 +1%
CAN
28
Cetera Advisor Networks
California
$268K – – –
JPLA
29
Joseph P. Lucia & Associates
New York
$263K +$114K +14,415 +75%
PFT
30
Providence First Trust
Arizona
$258K +$260K +32,906 New
GI
31
Glovista Investments
New Jersey
$231K -$116K -14,662 -33%
MWPCG
32
Measured Wealth Private Client Group
New Hampshire
$225K – – –
MWM
33
Merriman Wealth Management
Washington
$204K – – –
SWP
34
Stratos Wealth Partners
Ohio
$204K +$47.3K +6,000 +30%
AA
35
Ancora Advisors
Ohio
$200K – – –
Creative Planning
36
Creative Planning
Kansas
$192K +$1.63K +206 +0.8%
Stifel Financial
37
Stifel Financial
Missouri
$167K – – –
JWM
38
Jupiter Wealth Management
Colorado
$161K – – –
GHAM
39
Gilman Hill Asset Management
Connecticut
$157K – – –
IDA
40
Intelligence Driven Advisers
California
$138K +$139K +17,674 New
PAS
41
Partnervest Advisory Services
California
$120K +$121K +15,352 New
RJT
42
Raymond James Trust
Florida
$113K – – –
CA
43
Calton & Associates
Florida
$107K – – –
AWM
44
AE Wealth Management
Kansas
$95K -$1.04K -132 -1%
WAP
45
Wealthcare Advisory Partners
Pennsylvania
$94K – – –
Citigroup
46
Citigroup
New York
$90K -$50K -6,339 -36%
SW
47
SVB Wealth
Massachusetts
$90K – – –
Carson Wealth (CWM LLC)
48
Carson Wealth (CWM LLC)
Nebraska
$85K – – –
PAG
49
Private Advisor Group
New Jersey
$84K – – –
SBH
50
Segall Bryant & Hamill
Illinois
$83K -$39.5K -5,000 -32%
1
2
3 4

PMM Hedge Fund Activity: Q3 2019 in Review

73 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q3 2019, worth a combined $37.5M — down 18% from $45.6M a quarter earlier.

Buyers outnumbered sellers: 7 funds opened new PMM positions and 6 closed out — a net gain of 1 holder — while 14 added to existing stakes and 20 trimmed.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $4.5M. The largest seller was Robinson Capital Management, exiting entirely with an estimated $4.44M sold.

  • 73 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q3 2019, up from 72 in Q2 2019.
  • Funds reported $37.5M of Franklin Managed Municipal Income Trust stock for Q3 2019, down 18% quarter-over-quarter.
  • 7 funds opened new Franklin Managed Municipal Income Trust positions in Q3 2019 and 6 closed out, a net change of +1 holder.
  • The largest Franklin Managed Municipal Income Trust buyer in Q3 2019 was Rivernorth Capital Management, an estimated $4.5M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q3 2019 was Robinson Capital Management, an estimated $4.44M sold.

Based on aggregated 13F filings for Q3 2019.