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PMM

Franklin Managed Municipal Income Trust
PMM

64 hedge funds and large institutions have $33.2M invested in Franklin Managed Municipal Income Trust in 2020 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 14 increasing their positions, 19 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

1.04% less ownership

Funds ownership: 10.23% → 9.19% (-1%)

8% less capital invested

Capital invested by funds: $36.2M → $33.2M (-$3.03M)

12% less funds holding

Funds holding: 73 → 64 (-9)

26% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 19

60% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 15

Holders
64
Holders Change
-9
Holders Change %
-12.33%
% of All Funds
1.31%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
14
Reduced
19
Closed
15
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
+$767K
2
JPLA
Joseph P. Lucia & Associates
New York
+$287K
3
RIG
Ramiah Investment Group
Wisconsin
+$251K
4
Morgan Stanley
Morgan Stanley
New York
+$222K
5
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
+$215K

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$990K
2
Ameriprise
Ameriprise
Minnesota
-$936K
3
GI
Glovista Investments
New Jersey
-$522K
4
Invesco
Invesco
Georgia
-$458K
5
Osaic Holdings
Osaic Holdings
Arizona
-$401K
Name Holding Trade Value Shares
Change 		Change in
Stake
US Bancorp
51
US Bancorp
Minnesota
$54K +$1.99K +281 +4%
PNC Financial Services Group
52
PNC Financial Services Group
Pennsylvania
$52K – – –
BEI
53
Benjamin Edwards Inc
Missouri
$40K – – –
BFC
54
Bedel Financial Consulting
Indiana
$37K – – –
Rockefeller Capital Management
55
Rockefeller Capital Management
New York
$37K +$35.4K +5,005 New
Northwestern Mutual Wealth Management
56
Northwestern Mutual Wealth Management
Wisconsin
$24K +$311 +44 +1%
HNB
57
Huntington National Bank
Ohio
$23K – – –
CHC
58
City Holding Co
West Virginia
$15K – – –
GWM
59
Geneos Wealth Management
Colorado
$15K – – –
TFS
60
TrustCore Financial Services
Tennessee
$9K – – –
AF
61
Advisornet Financial
Minnesota
$7K -$7.78K -1,100 -55%
Fifth Third Bancorp
62
Fifth Third Bancorp
Ohio
$6K -$1.14K -161 -17%
MIM
63
Macroview Investment Management
Maryland
$3K -$13.2K -1,860 -82%
FCA
64
FinTrust Capital Advisors
South Carolina
$2K – – –
KIM
65
Karpus Investment Management
New York
– -$990K -137,501 Closed
GI
66
Glovista Investments
New Jersey
– -$522K -72,525 Closed
AWM
67
Altium Wealth Management
New York
– -$311K -43,184 Closed
GC
68
Guggenheim Capital
Illinois
– -$309K -42,882 Closed
MWM
69
Merriman Wealth Management
Washington
– -$181K -25,140 Closed
Creative Planning
70
Creative Planning
Kansas
– -$180K -24,967 Closed
LCM
71
Landscape Capital Management
New Jersey
– -$101K -14,023 Closed
APW
72
Aurora Private Wealth
New Jersey
– -$99K -13,800 Closed
SW
73
SVB Wealth
Massachusetts
– -$83K -11,500 Closed
IFG
74
Independent Financial Group
California
– -$72K -10,000 Closed
AIC
75
Ameritas Investment Company
Nebraska
– -$25K -3,798 Closed
1 2
3
4

PMM Hedge Fund Activity: Q2 2020 in Review

64 of the 4,877 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q2 2020, worth a combined $33.2M — down 8.4% from $36.2M a quarter earlier.

Sellers outnumbered buyers: 15 funds closed out of PMM and 6 opened new positions — a net loss of 9 holders — while 19 trimmed existing stakes and 14 added.

The largest buyer was UBS Group, adding an estimated $767K. The largest seller was Karpus Investment Management, exiting entirely with an estimated $990K sold.

  • 64 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q2 2020, down from 73 in Q1 2020.
  • Funds reported $33.2M of Franklin Managed Municipal Income Trust stock for Q2 2020, down 8.4% quarter-over-quarter.
  • 6 funds opened new Franklin Managed Municipal Income Trust positions in Q2 2020 and 15 closed out, a net change of -9 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q2 2020 was UBS Group, an estimated $767K added.
  • The largest Franklin Managed Municipal Income Trust seller in Q2 2020 was Karpus Investment Management, an estimated $990K sold.

Based on aggregated 13F filings for Q2 2020.