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PMM

Franklin Managed Municipal Income Trust
PMM

66 hedge funds and large institutions have $40.4M invested in Franklin Managed Municipal Income Trust in 2016 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 22 increasing their positions, 14 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 8

57% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 14

14% more funds holding

Funds holding: 58 → 66 (+8)

0.79% more ownership

Funds ownership: 9.49% → 10.28% (+0.79%)

4% less capital invested

Capital invested by funds: $42M → $40.4M (-$1.53M)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
66
Holders Change
+8
Holders Change %
+13.79%
% of All Funds
1.65%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
16
Increased
22
Reduced
14
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
+$946K
2
Cohen & Steers
Cohen & Steers
New York
+$764K
3
LCM
Landscape Capital Management
New Jersey
+$762K
4
KIM
Karpus Investment Management
New York
+$538K
5
Morgan Stanley
Morgan Stanley
New York
+$412K

Top Sellers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$1.55M
2
VanEck Associates
VanEck Associates
New York
-$397K
3
GC
Guggenheim Capital
Illinois
-$335K
4
CRC
Curi RMB Capital
Illinois
-$266K
5
CWM
Concert Wealth Management
California
-$238K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJT
51
Raymond James Trust
Florida
$73K -$8.78K -1,195 -10%
US Bancorp
52
US Bancorp
Minnesota
$65K +$14.7K +2,000 +28%
PNC Financial Services Group
53
PNC Financial Services Group
Pennsylvania
$61K -$46.2K -6,290 -42%
NFG
54
Next Financial Group
Texas
$52K +$53.6K +7,300 New
EWM
55
Evercore Wealth Management
New York
$24K – – –
GWM
56
Geneos Wealth Management
Colorado
$22K +$15.7K +2,144 +202%
WA
57
WFG Advisors
Texas
$21K – – –
KF
58
Krilogy Financial
Missouri
$20K – – –
WEC
59
Winslow Evans & Crocker
Massachusetts
$14.5K – – –
Northwestern Mutual Wealth Management
60
Northwestern Mutual Wealth Management
Wisconsin
$10K +$10.7K +1,450 New
Fifth Third Bancorp
61
Fifth Third Bancorp
Ohio
$7K – – –
Citigroup
62
Citigroup
New York
$5K – – –
MFS
63
MSI Financial Services
Massachusetts
$5K – – –
IWM
64
IHT Wealth Management
Illinois
$4K +$4.34K +591 New
AAP
65
Arax Advisory Partners
Colorado
$3K +$2.8K +381 New
CCM
66
Cribstone Capital Management
Maine
$2K – – –
Envestnet Asset Management
67
Envestnet Asset Management
Illinois
– -$1.55M -194,923 Closed
CRC
68
Curi RMB Capital
Illinois
– -$266K -33,372 Closed
CWM
69
Concert Wealth Management
California
– -$238K -29,830 Closed
HCM
70
Hollencrest Capital Management
California
– -$162K -20,264 Closed
CCB
71
Cutter & Co Brokerage
Missouri
– -$105K -13,153 Closed
MF
72
Magnetar Financial
Illinois
– -$80K -10,005 Closed
BAM
73
Brave Asset Management
New Jersey
– -$20K -2,500 Closed
KA
74
Klingman & Associates
New York
– -$12K -1,521 Closed
Bank of Montreal
75
Bank of Montreal
Ontario, Canada
– +$426 +58 New
1 2
3

PMM Hedge Fund Activity: Q4 2016 in Review

66 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q4 2016, worth a combined $40.4M — down 3.6% from $42M a quarter earlier.

Buyers outnumbered sellers: 16 funds opened new PMM positions and 8 closed out — a net gain of 8 holders — while 22 added to existing stakes and 14 trimmed.

The largest buyer was Invesco, opening a new position worth an estimated $946K. The largest seller was Envestnet Asset Management, exiting entirely with an estimated $1.55M sold.

  • 66 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q4 2016, up from 58 in Q3 2016.
  • Funds reported $40.4M of Franklin Managed Municipal Income Trust stock for Q4 2016, down 3.6% quarter-over-quarter.
  • 16 funds opened new Franklin Managed Municipal Income Trust positions in Q4 2016 and 8 closed out, a net change of +8 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q4 2016 was Invesco, an estimated $946K added.
  • The largest Franklin Managed Municipal Income Trust seller in Q4 2016 was Envestnet Asset Management, an estimated $1.55M sold.

Based on aggregated 13F filings for Q4 2016.