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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$1.2M |
| 2 |
GI
Glovista Investments
Jersey City,
New Jersey
|
+$906K |
| 3 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$569K |
| 4 |
Cohen & Steers
New York
|
+$437K |
| 5 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
+$334K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$1.62M |
| 2 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$1.07M |
| 3 |
Invesco
Atlanta,
Georgia
|
-$566K |
| 4 |
ICA
Infrastructure Capital Advisors
New York
|
-$356K |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$323K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
SFS
76
Sowell Financial Services
North Little Rock,
Arkansas
| – | -$134K | -19,400 | Closed |
|
|
TSS
77
Two Sigma Securities
New York
| – | -$134K | -19,374 | Closed |
|
|
FAAS
78
First Allied Advisory Services
San Diego,
California
| – | -$122K | -17,597 | Closed |
|
|
ACI
79
Alpha Cubed Investments
Irvine,
California
| – | -$106K | -15,767 | Closed |
|
|
VV
80
Verity & Verity
Beaufort,
South Carolina
| – | -$83K | -12,000 | Closed |
|
|
BCA
81
Bay Colony Advisors
Concord,
Massachusetts
| – | -$80K | -11,544 | Closed |
|
|
CRC
82
Curi RMB Capital
Chicago,
Illinois
| – | -$79K | -11,425 | Closed |
|
|
RAM
83
Riggs Asset Management
Dallas,
Pennsylvania
| – | -$59K | -8,632 | Closed |
|
|
SFM
84
Signet Financial Management
Parsippany,
New Jersey
| – | -$43K | -6,235 | Closed |
|
|
CPIG
85
Chicago Partners Investment Group
Chicago,
Illinois
| – | -$7K | -1,000 | Closed |
|
|
APP
86
Avantax Planning Partners
Dubuque,
Iowa
| – | -$2K | -300 | Closed |
|
87
Fidelity Investments
Boston,
Massachusetts
| – | +$7 | +1 | New |
|
|
JCM
88
Jacobi Capital Management
Pittston,
Pennsylvania
| – | +$7 | +1 | New |
|
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.