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PMM

Franklin Managed Municipal Income Trust
PMM

73 hedge funds and large institutions have $36.2M invested in Franklin Managed Municipal Income Trust in 2020 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 17 increasing their positions, 17 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

57% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 7

3% more funds holding

Funds holding: 71 → 73 (+2)

0% more repeat investments, than reductions

Existing positions increased: 17 | Existing positions reduced: 17

0.07% less ownership

Funds ownership: 10.3% → 10.23% (-0.07%)

11% less capital invested

Capital invested by funds: $40.5M → $36.2M (-$4.25M)

Holders
73
Holders Change
+2
Holders Change %
+2.82%
% of All Funds
1.61%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
17
Reduced
17
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$1.08M
2
COLIM
City of London Investment Management
United Kingdom
+$1.04M
3
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
+$580K
4
Bank of America
Bank of America
North Carolina
+$425K
5
GI
Glovista Investments
New Jersey
+$270K

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$2.7M
2
UBS Group
UBS Group
Switzerland
-$487K
3
Morgan Stanley
Morgan Stanley
New York
-$385K
4
IAA
Independent Advisor Alliance
North Carolina
-$376K
5
GC
Guggenheim Capital
Illinois
-$335K
Name Holding Trade Value Shares
Change 		Change in
Stake
AWM
26
Altium Wealth Management
New York
$311K – – –
GC
27
Guggenheim Capital
Illinois
$309K -$335K -42,781 -50%
QCIG
28
Quad-Cities Investment Group
Iowa
$297K +$3.52K +450 +1%
Commonwealth Equity Services
29
Commonwealth Equity Services
Massachusetts
$294K -$9.6K -1,228 -3%
Cohen & Steers
30
Cohen & Steers
New York
$291K -$78.5K -10,036 -20%
PFT
31
Providence First Trust
Arizona
$233K -$4.69K -600 -2%
SWP
32
Stratos Wealth Partners
Ohio
$221K +$36.9K +4,718 +18%
CAN
33
Cetera Advisor Networks
California
$211K -$38.9K -4,979 -15%
JWM
34
Jupiter Wealth Management
Colorado
$189K – – –
AA
35
Ancora Advisors
Ohio
$184K – – –
MWM
36
Merriman Wealth Management
Washington
$181K -$6.86K -877 -3%
Creative Planning
37
Creative Planning
Kansas
$180K +$1.61K +206 +0.8%
HR
38
Hayden Royal
North Carolina
$170K +$55.5K +7,100 +43%
Stifel Financial
39
Stifel Financial
Missouri
$154K – – –
RJT
40
Raymond James Trust
Florida
$103K – – –
LCM
41
Landscape Capital Management
New Jersey
$101K +$110K +14,023 New
CA
42
Calton & Associates
Florida
$99K – – –
APW
43
Aurora Private Wealth
New Jersey
$99K +$108K +13,800 New
AWM
44
AE Wealth Management
Kansas
$98K +$7.82K +1,000 +8%
HWM
45
Hohimer Wealth Management
Washington
$95K – – –
WAP
46
Wealthcare Advisory Partners
Pennsylvania
$87K – – –
Carson Wealth (CWM LLC)
47
Carson Wealth (CWM LLC)
Nebraska
$85K – – –
SW
48
SVB Wealth
Massachusetts
$83K – – –
Citigroup
49
Citigroup
New York
$82K – – –
PAG
50
Private Advisor Group
New Jersey
$77K – – –
1
2
3 4

PMM Hedge Fund Activity: Q1 2020 in Review

73 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q1 2020, worth a combined $36.2M — down 11% from $40.5M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new PMM positions and 7 closed out — a net gain of 4 holders — while 17 added to existing stakes and 17 trimmed.

The largest buyer was Karpus Investment Management, opening a new position worth an estimated $1.08M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $2.7M sold.

  • 73 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q1 2020, up from 71 in Q4 2019.
  • Funds reported $36.2M of Franklin Managed Municipal Income Trust stock for Q1 2020, down 11% quarter-over-quarter.
  • 11 funds opened new Franklin Managed Municipal Income Trust positions in Q1 2020 and 7 closed out, a net change of +4 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q1 2020 was Karpus Investment Management, an estimated $1.08M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q1 2020 was Rivernorth Capital Management, an estimated $2.7M sold.

Based on aggregated 13F filings for Q1 2020.