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PMM

Franklin Managed Municipal Income Trust
PMM

73 hedge funds and large institutions have $36.2M invested in Franklin Managed Municipal Income Trust in 2020 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 17 increasing their positions, 17 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

57% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 7

3% more funds holding

Funds holding: 71 → 73 (+2)

0% more repeat investments, than reductions

Existing positions increased: 17 | Existing positions reduced: 17

0.07% less ownership

Funds ownership: 10.3% → 10.23% (-0.07%)

11% less capital invested

Capital invested by funds: $40.5M → $36.2M (-$4.25M)

Holders
73
Holders Change
+2
Holders Change %
+2.82%
% of All Funds
1.61%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
17
Reduced
17
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$1.08M
2
COLIM
City of London Investment Management
United Kingdom
+$1.04M
3
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
+$580K
4
Bank of America
Bank of America
North Carolina
+$425K
5
GI
Glovista Investments
New Jersey
+$270K

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$2.7M
2
UBS Group
UBS Group
Switzerland
-$487K
3
Morgan Stanley
Morgan Stanley
New York
-$385K
4
IAA
Independent Advisor Alliance
North Carolina
-$376K
5
GC
Guggenheim Capital
Illinois
-$335K
Name Holding Trade Value Shares
Change 		Change in
Stake
SBH
51
Segall Bryant & Hamill
Illinois
$76K – – –
WEC
52
Winslow Evans & Crocker
Massachusetts
$76K – – –
IFG
53
Independent Financial Group
California
$72K +$78.2K +10,000 New
SPIA
54
Steward Partners Investment Advisory
New York
$69K +$156 +20 +0.2%
SFS
55
Sowell Financial Services
Arkansas
$68K – – –
PNC Financial Services Group
56
PNC Financial Services Group
Pennsylvania
$51K – – –
US Bancorp
57
US Bancorp
Minnesota
$51K – – –
BEI
58
Benjamin Edwards Inc
Missouri
$39K – – –
BFC
59
Bedel Financial Consulting
Indiana
$36K – – –
AIC
60
Ameritas Investment Company
Nebraska
$25K +$29.7K +3,798 New
HNB
61
Huntington National Bank
Ohio
$23K – – –
Northwestern Mutual Wealth Management
62
Northwestern Mutual Wealth Management
Wisconsin
$23K +$289 +37 +1%
MIM
63
Macroview Investment Management
Maryland
$16K -$11.8K -1,515 -40%
AF
64
Advisornet Financial
Minnesota
$14K -$15.6K -2,000 -50%
CHC
65
City Holding Co
West Virginia
$14K – – –
GWM
66
Geneos Wealth Management
Colorado
$14K – – –
TFS
67
TrustCore Financial Services
Tennessee
$9K – – –
Fifth Third Bancorp
68
Fifth Third Bancorp
Ohio
$7K – – –
MPWT
69
MassMutual Private Wealth & Trust
Connecticut
$4K – – –
FCA
70
FinTrust Capital Advisors
South Carolina
$2K – – –
EWM
71
EPG Wealth Management
Georgia
$1K +$1.36K +174 New
DWM
72
Darwin Wealth Management
Florida
$1K +$1.56K +200 New
RCM
73
Rivernorth Capital Management
Florida
– -$2.7M -337,932 Closed
IAA
74
Independent Advisor Alliance
North Carolina
– -$376K -46,997 Closed
GHAM
75
Gilman Hill Asset Management
Connecticut
– -$160K -20,000 Closed
1 2
3
4

PMM Hedge Fund Activity: Q1 2020 in Review

73 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q1 2020, worth a combined $36.2M — down 11% from $40.5M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new PMM positions and 7 closed out — a net gain of 4 holders — while 17 added to existing stakes and 17 trimmed.

The largest buyer was Karpus Investment Management, opening a new position worth an estimated $1.08M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $2.7M sold.

  • 73 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q1 2020, up from 71 in Q4 2019.
  • Funds reported $36.2M of Franklin Managed Municipal Income Trust stock for Q1 2020, down 11% quarter-over-quarter.
  • 11 funds opened new Franklin Managed Municipal Income Trust positions in Q1 2020 and 7 closed out, a net change of +4 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q1 2020 was Karpus Investment Management, an estimated $1.08M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q1 2020 was Rivernorth Capital Management, an estimated $2.7M sold.

Based on aggregated 13F filings for Q1 2020.