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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WS
Wedbush Securities
Los Angeles,
California
|
+$425K |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$396K |
| 3 |
UCFA
United Capital Financial Advisors
Irving,
Texas
|
+$395K |
| 4 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$375K |
| 5 |
Envestnet Asset Management
Chicago,
Illinois
|
+$301K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JPLA
Joseph P. Lucia & Associates
Yorktown Heights,
New York
|
-$985K |
| 2 |
WAM
Wakefield Asset Management
Englewood,
Colorado
|
-$853K |
| 3 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$801K |
| 4 |
Cohen & Steers
New York
|
-$563K |
| 5 |
GI
Glovista Investments
Jersey City,
New Jersey
|
-$449K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
ICA
76
Infrastructure Capital Advisors
New York
| – | -$108K | -14,423 | Closed |
|
|
CFG
77
CKW Financial Group
Honolulu,
Hawaii
| – | -$102K | -13,641 | Closed |
|
78
Janney Montgomery Scott
Philadelphia,
Pennsylvania
| – | -$96K | -12,898 | Closed |
|
|
PPA
79
Parametric Portfolio Associates
Seattle,
Washington
| – | -$92K | -12,312 | Closed |
|
|
SS
80
Simplicity Solutions
Minneapolis,
Minnesota
| – | -$91K | -12,100 | Closed |
|
|
AA
81
AQR Arbitrage
Greenwich,
Connecticut
| – | -$79K | -10,550 | Closed |
|
|
AIC
82
Ameritas Investment Company
Lincoln,
Nebraska
| – | -$28K | -3,798 | Closed |
|
|
TJHA
83
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| – | -$28K | -3,694 | Closed |
|
|
SWM
84
SeaCrest Wealth Management
Purchase,
New York
| – | -$20K | -2,733 | Closed |
|
|
RIA
85
Realta Investment Advisors
Wilmington,
Delaware
| – | -$18K | -2,400 | Closed |
|
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.