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PMM

Franklin Managed Municipal Income Trust
PMM

69 hedge funds and large institutions have $39.1M invested in Franklin Managed Municipal Income Trust in 2014 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 24 increasing their positions, 8 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

200% more repeat investments, than reductions

Existing positions increased: 24 | Existing positions reduced: 8

43% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 7

11% more capital invested

Capital invested by funds: $35.1M → $39.1M (+$4.02M)

3% more funds holding

Funds holding: 67 → 69 (+2)

0.94% more ownership

Funds ownership: 8.68% → 9.62% (+0.94%)

Holders
69
Holders Change
+2
Holders Change %
+2.99%
% of All Funds
1.84%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
10
Increased
24
Reduced
8
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
NCM
Newgate Capital Management
Connecticut
+$1.03M
2
MIG
Mariner Investment Group
New York
+$894K
3
Morgan Stanley
Morgan Stanley
New York
+$573K
4
SG Americas Securities
SG Americas Securities
New York
+$366K
5
BRWA
B. Riley Wealth Advisors
Florida
+$323K

Top Sellers

Rank Fund Capital Flow
1
WAM
Wolverine Asset Management
Illinois
-$579K
2
AAM
Advisors Asset Management
Colorado
-$206K
3
DA
Doliver Advisors
Texas
-$179K
4
Invesco
Invesco
Georgia
-$174K
5
SCA
Strategic Capital Alternatives
United States
-$135K
Name Holding Trade Value Shares
Change 		Change in
Stake
NPC
51
National Planning Corporation
California
$73.4K – – –
US Bancorp
52
US Bancorp
Minnesota
$52K – – –
WA
53
WFG Advisors
Texas
$45K – – –
PSI
54
Pinnacle Summer Investments
Virginia
$41K – – –
WAM
55
Wolverine Asset Management
Illinois
$20K -$579K -80,980 -97%
OIA
56
Optimum Investment Advisors
Illinois
$20K – – –
BAM
57
Brave Asset Management
New Jersey
$18K – – –
WEC
58
Winslow Evans & Crocker
Massachusetts
$14.9K – – –
DADC
59
D.A. Davidson & Co
Montana
$14K – – –
NES
60
New England Securities
New York
$13K -$13.9K -1,951 -51%
MFS
61
MSI Financial Services
Massachusetts
$11K +$43 +6 +0.4%
BIM
62
BlackRock Investment Management
Delaware
$11K +$10.4K +1,455 New
KA
63
Klingman & Associates
New York
$11K +$10.9K +1,521 New
CFA
64
Carroll Financial Associates
North Carolina
$7K – – –
Fifth Third Bancorp
65
Fifth Third Bancorp
Ohio
$7K – – –
FAM
66
Formidable Asset Management
Ohio
$7K – – –
Citigroup
67
Citigroup
New York
$5K – – –
BRWA
68
B. Riley Wealth Advisors
Florida
$4.15K +$323K +45,182 +89%
MA
69
MUFG Americas
New York
$3K – – –
DA
70
Doliver Advisors
Texas
– -$179K -25,306 Closed
SCA
71
Strategic Capital Alternatives
United States
– -$135K -19,055 Closed
HK
72
Horizon Kinetics
New York
– -$120K -16,910 Closed
Bank of New York Mellon
73
Bank of New York Mellon
New York
– -$116K -16,288 Closed
EWM
74
Evercore Wealth Management
New York
– -$24K -3,363 Closed
MPWT
75
MassMutual Private Wealth & Trust
Connecticut
– -$11.7K -1,647 Closed
1 2
3

PMM Hedge Fund Activity: Q4 2014 in Review

69 of the 3,749 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q4 2014, worth a combined $39.1M — up 11% from $35.1M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new PMM positions and 7 closed out — a net gain of 3 holders — while 24 added to existing stakes and 8 trimmed.

The largest buyer was Newgate Capital Management, adding an estimated $1.03M. The largest seller was Wolverine Asset Management, cutting an estimated $579K.

  • 69 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q4 2014, up from 67 in Q3 2014.
  • Funds reported $39.1M of Franklin Managed Municipal Income Trust stock for Q4 2014, up 11% quarter-over-quarter.
  • 10 funds opened new Franklin Managed Municipal Income Trust positions in Q4 2014 and 7 closed out, a net change of +3 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q4 2014 was Newgate Capital Management, an estimated $1.03M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q4 2014 was Wolverine Asset Management, an estimated $579K sold.

Based on aggregated 13F filings for Q4 2014.