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PMM

Franklin Managed Municipal Income Trust
PMM

75 hedge funds and large institutions have $45.8M invested in Franklin Managed Municipal Income Trust in 2018 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 16 increasing their positions, 20 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.13% less ownership

Funds ownership: 12.8% → 12.68% (-0.13%)

4% less capital invested

Capital invested by funds: $47.5M → $45.8M (-$1.69M)

4% less funds holding

Funds holding: 78 → 75 (-3)

15% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 13

20% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 20

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
75
Holders Change
-3
Holders Change %
-3.85%
% of All Funds
1.67%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
11
Increased
16
Reduced
20
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$1.2M
2
GI
Glovista Investments
New Jersey
+$906K
3
LCM
Landscape Capital Management
New Jersey
+$569K
4
Cohen & Steers
Cohen & Steers
New York
+$437K
5
AA
AQR Arbitrage
Connecticut
+$334K

Top Sellers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
-$1.62M
2
PPA
Parametric Portfolio Associates
Washington
-$1.07M
3
Invesco
Invesco
Georgia
-$566K
4
ICA
Infrastructure Capital Advisors
New York
-$356K
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$323K
Name Holding Trade Value Shares
Change 		Change in
Stake
CA
51
Calton & Associates
Florida
$92K – – –
CFG
52
CKW Financial Group
Hawaii
$92K – – –
WEC
53
Winslow Evans & Crocker
Massachusetts
$88K – – –
AWM
54
AE Wealth Management
Kansas
$81K – – –
WAP
55
Wealthcare Advisory Partners
Pennsylvania
$81K – – –
SS
56
Simplicity Solutions
Minnesota
$81K +$82.3K +12,100 New
TJHA
57
Thomas J. Herzfeld Advisors
Florida
$73K – – –
PAG
58
Private Advisor Group
New Jersey
$72K – – –
US Bancorp
59
US Bancorp
Minnesota
$48K – – –
PNC Financial Services Group
60
PNC Financial Services Group
Pennsylvania
$47K – – –
BFC
61
Bedel Financial Consulting
Indiana
$34K – – –
CIAS
62
Capital Investment Advisory Services
North Carolina
$28K +$28.5K +4,193 New
MIM
63
Macroview Investment Management
Maryland
$27K -$1.7K -250 -6%
Northwestern Mutual Wealth Management
64
Northwestern Mutual Wealth Management
Wisconsin
$26K +$5.69K +837 +29%
RCAG
65
Rehmann Capital Advisory Group
Michigan
$20K – – –
SWM
66
SeaCrest Wealth Management
New York
$18K – – –
APA
67
American Portfolios Advisors
New York
$16.1K -$35.3K -5,191 -68%
GWM
68
Geneos Wealth Management
Colorado
$14K – – –
CHC
69
City Holding Co
West Virginia
$13K – – –
FCA
70
FinTrust Capital Advisors
South Carolina
$12K +$11.9K +1,745 New
Fifth Third Bancorp
71
Fifth Third Bancorp
Ohio
$7K -$102 -15 -2%
Citigroup
72
Citigroup
New York
$4K – – –
MPWT
73
MassMutual Private Wealth & Trust
Connecticut
$3.36K – – –
NDSI
74
Newman Dignan & Sheerar Inc
Rhode Island
– -$256K -38,449 Closed
KIM
75
Karpus Investment Management
New York
– -$220K -31,801 Closed
1 2
3
4

PMM Hedge Fund Activity: Q4 2018 in Review

75 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q4 2018, worth a combined $45.8M — down 3.5% from $47.5M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of PMM and 11 opened new positions — a net loss of 2 holders — while 20 trimmed existing stakes and 16 added.

The largest buyer was Morgan Stanley, adding an estimated $1.2M. The largest seller was Robinson Capital Management, cutting an estimated $1.62M.

  • 75 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q4 2018, down from 78 in Q3 2018.
  • Funds reported $45.8M of Franklin Managed Municipal Income Trust stock for Q4 2018, down 3.5% quarter-over-quarter.
  • 11 funds opened new Franklin Managed Municipal Income Trust positions in Q4 2018 and 13 closed out, a net change of -2 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q4 2018 was Morgan Stanley, an estimated $1.2M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q4 2018 was Robinson Capital Management, an estimated $1.62M sold.

Based on aggregated 13F filings for Q4 2018.