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PMM

Franklin Managed Municipal Income Trust
PMM

67 hedge funds and large institutions have $46.9M invested in Franklin Managed Municipal Income Trust in 2015 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 26 increasing their positions, 7 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

271% more repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 7

80% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 5

13% more capital invested

Capital invested by funds: $41.5M → $46.9M (+$5.39M)

6% more funds holding

Funds holding: 63 → 67 (+4)

1.02% more ownership

Funds ownership: 10.44% → 11.46% (+1%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
67
Holders Change
+4
Holders Change %
+6.35%
% of All Funds
1.76%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
9
Increased
26
Reduced
7
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LCM
Laurion Capital Management
New York
+$1.3M
2
PPA
Parametric Portfolio Associates
Washington
+$1.22M
3
GC
Guggenheim Capital
Illinois
+$713K
4
LPL Financial
LPL Financial
California
+$693K
5
Morgan Stanley
Morgan Stanley
New York
+$325K

Top Sellers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
-$4.02M
2
LSA
Liberty Street Advisors
New York
-$2M
3
MIM
Macroview Investment Management
Maryland
-$552K
4
AA
AQR Arbitrage
Connecticut
-$397K
5
KIM
Karpus Investment Management
New York
-$371K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJT
51
Raymond James Trust
Florida
$83K – – –
SG Americas Securities
52
SG Americas Securities
New York
$75K +$73.4K +10,127 New
AIG
53
American International Group
New York
$74K – – –
US Bancorp
54
US Bancorp
Minnesota
$53K – – –
PSI
55
Pinnacle Summer Investments
Virginia
$40K – – –
Deutsche Bank
56
Deutsche Bank
Germany
$40K +$14.5K +2,000 +57%
WA
57
WFG Advisors
Texas
$36K – – –
EWM
58
Evercore Wealth Management
New York
$25K – – –
BAM
59
Brave Asset Management
New Jersey
$18K – – –
WEC
60
Winslow Evans & Crocker
Massachusetts
$15.1K – – –
MFS
61
MSI Financial Services
Massachusetts
$12K +$29 +4 +0.3%
Northwestern Mutual Wealth Management
62
Northwestern Mutual Wealth Management
Wisconsin
$11K – – –
KA
63
Klingman & Associates
New York
$11K +$11K +1,521 New
Fifth Third Bancorp
64
Fifth Third Bancorp
Ohio
$7K – – –
TRCT
65
Tower Research Capital (TRC)
New York
$6K -$2.46K -340 -28%
FAM
66
Formidable Asset Management
Ohio
$6K – – –
Citigroup
67
Citigroup
New York
$5K +$72 +10 +2%
LSA
68
Liberty Street Advisors
New York
– -$2M -279,858 Closed
COLIM
69
City of London Investment Management
United Kingdom
– -$344K -48,000 Closed
Koshinski Asset Management
70
Koshinski Asset Management
Illinois
– -$217K -30,638 Closed
Invesco
71
Invesco
Georgia
– -$143K -20,018 Closed
BCM
72
Brookstone Capital Management
Illinois
– -$4K -550 Closed
1 2
3

PMM Hedge Fund Activity: Q4 2015 in Review

67 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q4 2015, worth a combined $46.9M — up 13% from $41.5M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new PMM positions and 5 closed out — a net gain of 4 holders — while 26 added to existing stakes and 7 trimmed.

The largest buyer was Laurion Capital Management, opening a new position worth an estimated $1.3M. The largest seller was Bank of America, cutting an estimated $4.02M.

  • 67 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q4 2015, up from 63 in Q3 2015.
  • Funds reported $46.9M of Franklin Managed Municipal Income Trust stock for Q4 2015, up 13% quarter-over-quarter.
  • 9 funds opened new Franklin Managed Municipal Income Trust positions in Q4 2015 and 5 closed out, a net change of +4 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q4 2015 was Laurion Capital Management, an estimated $1.3M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q4 2015 was Bank of America, an estimated $4.02M sold.

Based on aggregated 13F filings for Q4 2015.