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PMM

Franklin Managed Municipal Income Trust
PMM

73 hedge funds and large institutions have $37.5M invested in Franklin Managed Municipal Income Trust in 2019 Q3 according to their latest regulatory filings, with 7 funds opening new positions, 14 increasing their positions, 20 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

17% more first-time investments, than exits

New positions opened: 7 | Existing positions closed: 6

1% more funds holding

Funds holding: 72 → 73 (+1)

1.29% less ownership

Funds ownership: 12.19% → 10.9% (-1.3%)

18% less capital invested

Capital invested by funds: $45.6M → $37.5M (-$8.12M)

30% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 20

Holders
73
Holders Change
+1
Holders Change %
+1.39%
% of All Funds
1.6%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
7
Increased
14
Reduced
20
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$4.5M
2
Ameriprise
Ameriprise
Minnesota
+$443K
3
AWM
Altium Wealth Management
New York
+$341K
4
PFT
Providence First Trust
Arizona
+$260K
5
Invesco
Invesco
Georgia
+$234K

Top Sellers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
-$4.44M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$2.22M
3
UCFA
United Capital Financial Advisors
Texas
-$1.56M
4
GC
Guggenheim Capital
Illinois
-$855K
5
Morgan Stanley
Morgan Stanley
New York
-$550K
Name Holding Trade Value Shares
Change 		Change in
Stake
WEC
51
Winslow Evans & Crocker
Massachusetts
$82K – – –
SPIA
52
Steward Partners Investment Advisory
New York
$75K +$15.3K +1,941 +25%
SFS
53
Sowell Financial Services
Arkansas
$74K +$74.2K +9,400 New
US Bancorp
54
US Bancorp
Minnesota
$56K – – –
PNC Financial Services Group
55
PNC Financial Services Group
Pennsylvania
$55K -$47 -6 -0.1%
BEI
56
Benjamin Edwards Inc
Missouri
$42K – – –
BFC
57
Bedel Financial Consulting
Indiana
$39K – – –
CIAS
58
Capital Investment Advisory Services
North Carolina
$33K – – –
MIM
59
Macroview Investment Management
Maryland
$30K – – –
RCAG
60
Rehmann Capital Advisory Group
Michigan
$26.3K +$2.98K +377 +13%
HNB
61
Huntington National Bank
Ohio
$25K – – –
Northwestern Mutual Wealth Management
62
Northwestern Mutual Wealth Management
Wisconsin
$24K +$300 +38 +1%
APA
63
American Portfolios Advisors
New York
$18.7K – – –
AF
64
Advisornet Financial
Minnesota
$16K – – –
CHC
65
City Holding Co
West Virginia
$16K – – –
GWM
66
Geneos Wealth Management
Colorado
$16K – – –
TFS
67
TrustCore Financial Services
Tennessee
$9K +$9.46K +1,199 New
Fifth Third Bancorp
68
Fifth Third Bancorp
Ohio
$8K – – –
RCM
69
Rivernorth Capital Management
Florida
$4.46K +$4.5M +569,815 New
MPWT
70
MassMutual Private Wealth & Trust
Connecticut
$4K – – –
FCA
71
FinTrust Capital Advisors
South Carolina
$3K -$3.84K -487 -59%
EFSCE
72
Enterprise Financial Services Corp (EFSC)
Missouri
$2K – – –
RCM
73
Robinson Capital Management
Michigan
– -$4.44M -570,539 Closed
Envestnet Asset Management
74
Envestnet Asset Management
Illinois
– -$2.22M -290,813 Closed
HR
75
Hayden Royal
North Carolina
– -$127K -16,358 Closed
1 2
3
4

PMM Hedge Fund Activity: Q3 2019 in Review

73 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q3 2019, worth a combined $37.5M — down 18% from $45.6M a quarter earlier.

Buyers outnumbered sellers: 7 funds opened new PMM positions and 6 closed out — a net gain of 1 holder — while 14 added to existing stakes and 20 trimmed.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $4.5M. The largest seller was Robinson Capital Management, exiting entirely with an estimated $4.44M sold.

  • 73 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q3 2019, up from 72 in Q2 2019.
  • Funds reported $37.5M of Franklin Managed Municipal Income Trust stock for Q3 2019, down 18% quarter-over-quarter.
  • 7 funds opened new Franklin Managed Municipal Income Trust positions in Q3 2019 and 6 closed out, a net change of +1 holder.
  • The largest Franklin Managed Municipal Income Trust buyer in Q3 2019 was Rivernorth Capital Management, an estimated $4.5M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q3 2019 was Robinson Capital Management, an estimated $4.44M sold.

Based on aggregated 13F filings for Q3 2019.