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PMM

Franklin Managed Municipal Income Trust
PMM

61 hedge funds and large institutions have $31.3M invested in Franklin Managed Municipal Income Trust in 2014 Q2 according to their latest regulatory filings, with 11 funds opening new positions, 16 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

120% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 5

23% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 13

11% more funds holding

Funds holding: 55 → 61 (+6)

10% more capital invested

Capital invested by funds: $28.4M → $31.3M (+$2.88M)

0.58% more ownership

Funds ownership: 7.16% → 7.75% (+0.58%)

Holders
61
Holders Change
+6
Holders Change %
+10.91%
% of All Funds
1.75%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
16
Reduced
13
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PPA
Parametric Portfolio Associates
Washington
+$1.93M
2
Morgan Stanley
Morgan Stanley
New York
+$839K
3
AAM
Advisors Asset Management
Colorado
+$802K
4
BRWA
B. Riley Wealth Advisors
Florida
+$371K
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$160K

Top Sellers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
-$1.13M
2
DLG
Daniel L. Goodwin
-$843K
3
Wells Fargo
Wells Fargo
California
-$145K
4
HK
Horizon Kinetics
New York
-$122K
5
CS
Credit Suisse
Switzerland
-$84K
Name Holding Trade Value Shares
Change 		Change in
Stake
MPWT
51
MassMutual Private Wealth & Trust
Connecticut
$11.8K +$11.8K +1,647 New
MFS
52
MSI Financial Services
Massachusetts
$11K +$43 +6 +0.4%
NES
53
New England Securities
New York
$11K +$10.5K +1,468 New
Fifth Third Bancorp
54
Fifth Third Bancorp
Ohio
$7K -$7.15K -1,000 -50%
CFA
55
Carroll Financial Associates
North Carolina
$7K – – –
FAM
56
Formidable Asset Management
Ohio
$6K – – –
Citigroup
57
Citigroup
New York
$4K -$59.1K -8,266 -93%
AllianceBernstein
58
AllianceBernstein
Tennessee
$4K +$3.88K +543 New
MA
59
MUFG Americas
New York
$2K +$1.08K +151 +134%
DLG
60
Daniel L. Goodwin
– -$843K -121,112 Closed
CS
61
Credit Suisse
Switzerland
– -$84K -11,998 Closed
SBH
62
Segall Bryant & Hamill
Illinois
– -$71K -10,200 Closed
FHA
63
First Horizon Advisors
Tennessee
– -$13K -1,900 Closed
WTB
64
Washington Trust Bank
Washington
– +$50 +7 New
TRCT
65
Tower Research Capital (TRC)
New York
– +$429 +60 New
1 2
3

PMM Hedge Fund Activity: Q2 2014 in Review

61 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q2 2014, worth a combined $31.3M — up 10% from $28.4M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new PMM positions and 5 closed out — a net gain of 6 holders — while 16 added to existing stakes and 13 trimmed.

The largest buyer was Parametric Portfolio Associates, adding an estimated $1.93M. The largest seller was Invesco, cutting an estimated $1.13M.

  • 61 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q2 2014, up from 55 in Q1 2014.
  • Funds reported $31.3M of Franklin Managed Municipal Income Trust stock for Q2 2014, up 10% quarter-over-quarter.
  • 11 funds opened new Franklin Managed Municipal Income Trust positions in Q2 2014 and 5 closed out, a net change of +6 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q2 2014 was Parametric Portfolio Associates, an estimated $1.93M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q2 2014 was Invesco, an estimated $1.13M sold.

Based on aggregated 13F filings for Q2 2014.