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PMM

Franklin Managed Municipal Income Trust
PMM

72 hedge funds and large institutions have $45.6M invested in Franklin Managed Municipal Income Trust in 2019 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 23 increasing their positions, 13 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

77% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 13

0.7% less ownership

Funds ownership: 12.89% → 12.19% (-0.7%)

1% less capital invested

Capital invested by funds: $46.3M → $45.6M (-$634K)

10% less funds holding

Funds holding: 80 → 72 (-8)

57% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 14

Holders
72
Holders Change
-8
Holders Change %
-10%
% of All Funds
1.56%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
23
Reduced
13
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
WS
Wedbush Securities
California
+$425K
2
UBS Group
UBS Group
Switzerland
+$396K
3
UCFA
United Capital Financial Advisors
Texas
+$395K
4
RJA
Raymond James & Associates
Florida
+$375K
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$301K

Top Sellers

Rank Fund Capital Flow
1
JPLA
Joseph P. Lucia & Associates
New York
-$985K
2
WAM
Wakefield Asset Management
Colorado
-$853K
3
RCM
Robinson Capital Management
Michigan
-$801K
4
Cohen & Steers
Cohen & Steers
New York
-$563K
5
GI
Glovista Investments
New Jersey
-$449K
Name Holding Trade Value Shares
Change 		Change in
Stake
SPIA
51
Steward Partners Investment Advisory
New York
$58K +$57.8K +7,668 New
US Bancorp
52
US Bancorp
Minnesota
$55K – – –
PNC Financial Services Group
53
PNC Financial Services Group
Pennsylvania
$54K – – –
BEI
54
Benjamin Edwards Inc
Missouri
$41K +$23K +3,050 +130%
BFC
55
Bedel Financial Consulting
Indiana
$38K – – –
CIAS
56
Capital Investment Advisory Services
North Carolina
$33K – – –
MIM
57
Macroview Investment Management
Maryland
$29K -$1.64K -217 -5%
Northwestern Mutual Wealth Management
58
Northwestern Mutual Wealth Management
Wisconsin
$23K +$287 +38 +1%
RCAG
59
Rehmann Capital Advisory Group
Michigan
$22.7K – – –
APA
60
American Portfolios Advisors
New York
$18.3K – – –
GWM
61
Geneos Wealth Management
Colorado
$16K – – –
AF
62
Advisornet Financial
Minnesota
$15K – – –
CHC
63
City Holding Co
West Virginia
$15K – – –
TFS
64
TrustCore Financial Services
Tennessee
$9K – – –
TRCT
65
Tower Research Capital (TRC)
New York
$9K +$9.35K +1,240 New
Fifth Third Bancorp
66
Fifth Third Bancorp
Ohio
$7K – – –
FCA
67
FinTrust Capital Advisors
South Carolina
$6K -$6.99K -926 -53%
WAM
68
Wakefield Asset Management
Colorado
$5K -$853K -113,023 -99%
MPWT
69
MassMutual Private Wealth & Trust
Connecticut
$4K – – –
MWM
70
Merriman Wealth Management
Washington
$2.01K – – –
EFSCE
71
Enterprise Financial Services Corp (EFSC)
Missouri
$2K – – –
LCM
72
Landscape Capital Management
New Jersey
– -$448K -59,910 Closed
TCM
73
Tradewinds Capital Management
Washington
– -$374K -50,000 Closed
PAS
74
Park Avenue Securities
New York
– -$258K -34,684 Closed
CAM
75
Columbia Asset Management
Michigan
– -$103K -20,000 Closed
1 2
3
4

PMM Hedge Fund Activity: Q2 2019 in Review

72 of the 4,604 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q2 2019, worth a combined $45.6M — down 1.4% from $46.3M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of PMM and 6 opened new positions — a net loss of 8 holders — while 13 trimmed existing stakes and 23 added.

The largest buyer was Wedbush Securities, adding an estimated $425K. The largest seller was Joseph P. Lucia & Associates, cutting an estimated $985K.

  • 72 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q2 2019, down from 80 in Q1 2019.
  • Funds reported $45.6M of Franklin Managed Municipal Income Trust stock for Q2 2019, down 1.4% quarter-over-quarter.
  • 6 funds opened new Franklin Managed Municipal Income Trust positions in Q2 2019 and 14 closed out, a net change of -8 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q2 2019 was Wedbush Securities, an estimated $425K added.
  • The largest Franklin Managed Municipal Income Trust seller in Q2 2019 was Joseph P. Lucia & Associates, an estimated $985K sold.

Based on aggregated 13F filings for Q2 2019.