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PMM

Franklin Managed Municipal Income Trust
PMM

61 hedge funds and large institutions have $39.4M invested in Franklin Managed Municipal Income Trust in 2016 Q2 according to their latest regulatory filings, with 9 funds opening new positions, 19 increasing their positions, 12 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

58% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 12

2.74% less ownership

Funds ownership: 11.55% → 8.82% (-2.7%)

8% less funds holding

Funds holding: 66 → 61 (-5)

20% less capital invested

Capital invested by funds: $49.1M → $39.4M (-$9.76M)

36% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 14

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
61
Holders Change
-5
Holders Change %
-7.58%
% of All Funds
1.63%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
9
Increased
19
Reduced
12
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
GC
Guggenheim Capital
Illinois
+$2.59M
2
AAM
Advisors Asset Management
Colorado
+$1.1M
3
Ameriprise
Ameriprise
Minnesota
+$439K
4
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$340K
5
UCFA
United Capital Financial Advisors
Texas
+$335K

Top Sellers

Rank Fund Capital Flow
1
PPA
Parametric Portfolio Associates
Washington
-$11.2M
2
LCM
Laurion Capital Management
New York
-$3.14M
3
Morgan Stanley
Morgan Stanley
New York
-$875K
4
OWM
Orgel Wealth Management
Wisconsin
-$704K
5
LPL Financial
LPL Financial
California
-$469K
Name Holding Trade Value Shares
Change 		Change in
Stake
BAM
51
Brave Asset Management
New Jersey
$20K – – –
WEC
52
Winslow Evans & Crocker
Massachusetts
$16.5K – – –
MFS
53
MSI Financial Services
Massachusetts
$15K -$3.92K -500 -22%
KA
54
Klingman & Associates
New York
$12K – – –
Northwestern Mutual Wealth Management
55
Northwestern Mutual Wealth Management
Wisconsin
$12K – – –
AIM
56
Anchor Investment Management
South Carolina
$9.65K +$9.41K +1,200 New
Fifth Third Bancorp
57
Fifth Third Bancorp
Ohio
$8K – – –
GWM
58
Geneos Wealth Management
Colorado
$8K – – –
Citigroup
59
Citigroup
New York
$5K +$24 +3 +0.5%
CFG
60
Citizens Financial Group
Rhode Island
$4K +$3.77K +480 New
CCM
61
Cribstone Capital Management
Maine
$2K +$2.42K +309 New
PPA
62
Parametric Portfolio Associates
Washington
– -$11.2M -1,468,216 Closed
LCM
63
Laurion Capital Management
New York
– -$3.14M -410,767 Closed
OWM
64
Orgel Wealth Management
Wisconsin
– -$704K -92,000 Closed
WFI
65
West Family Investments
California
– -$251K -32,800 Closed
CRC
66
Curi RMB Capital
Illinois
– -$178K -23,295 Closed
ACI
67
Alpha Cubed Investments
California
– -$125K -16,400 Closed
CCB
68
Cutter & Co Brokerage
Missouri
– -$101K -13,153 Closed
TC
69
TFS Capital
Pennsylvania
– -$99K -12,887 Closed
LCM
70
Landscape Capital Management
New Jersey
– -$80K -10,507 Closed
JMPWA
71
JP Morgan Private Wealth Advisors
California
– -$78K -10,200 Closed
AIG
72
American International Group
New York
– -$77K -10,000 Closed
FAM
73
Formidable Asset Management
Ohio
– -$6K -900 Closed
CAPTRUST Financial Advisors
74
CAPTRUST Financial Advisors
North Carolina
– -$4K -540 Closed
TRCT
75
Tower Research Capital (TRC)
New York
– -$2K -200 Closed
1 2
3

PMM Hedge Fund Activity: Q2 2016 in Review

61 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q2 2016, worth a combined $39.4M — down 20% from $49.1M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of PMM and 9 opened new positions — a net loss of 5 holders — while 12 trimmed existing stakes and 19 added.

The largest buyer was Guggenheim Capital, adding an estimated $2.59M. The largest seller was Parametric Portfolio Associates, exiting entirely with an estimated $11.2M sold.

  • 61 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q2 2016, down from 66 in Q1 2016.
  • Funds reported $39.4M of Franklin Managed Municipal Income Trust stock for Q2 2016, down 20% quarter-over-quarter.
  • 9 funds opened new Franklin Managed Municipal Income Trust positions in Q2 2016 and 14 closed out, a net change of -5 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q2 2016 was Guggenheim Capital, an estimated $2.59M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q2 2016 was Parametric Portfolio Associates, an estimated $11.2M sold.

Based on aggregated 13F filings for Q2 2016.