Franklin Managed Municipal Income Trust
PMM
66 hedge funds and large institutions have $29.8M invested in Franklin Managed Municipal Income Trust in 2013 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 18 increasing their positions, 15 reducing their positions, and 9 closing their positions.
78% more first-time investments, than exits
New positions opened: 16 | Existing positions closed: 9
20% more repeat investments, than reductions
Existing positions increased: 18 | Existing positions reduced: 15
12% more funds holding
Funds holding: 59 → 66 (+7)
9% more capital invested
Capital invested by funds: $27.3M → $29.8M (+$2.56M)
0.91% more ownership
Funds ownership: 6.95% → 7.85% (+0.91%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$1.16M |
| 2 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$1.11M |
| 3 |
MIG
Mariner Investment Group
Harrison,
New York
|
+$1.09M |
| 4 |
TC
TFS Capital
West Chester,
Pennsylvania
|
+$830K |
| 5 |
GF
Gerstein Fisher
New York
|
+$708K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FTCM
Fir Tree Capital Management
New York
|
-$2.16M |
| 2 |
Invesco
Atlanta,
Georgia
|
-$1.77M |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$1.02M |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$338K |
| 5 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$270K |
PMM Hedge Fund Activity: Q4 2013 in Review
66 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q4 2013, worth a combined $29.8M — up 9.4% from $27.3M a quarter earlier.
Buyers outnumbered sellers: 16 funds opened new PMM positions and 9 closed out — a net gain of 7 holders — while 18 added to existing stakes and 15 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $1.16M. The largest seller was Fir Tree Capital Management, exiting entirely with an estimated $2.16M sold.
- 66 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q4 2013, up from 59 in Q3 2013.
- Funds reported $29.8M of Franklin Managed Municipal Income Trust stock for Q4 2013, up 9.4% quarter-over-quarter.
- 16 funds opened new Franklin Managed Municipal Income Trust positions in Q4 2013 and 9 closed out, a net change of +7 holders.
- The largest Franklin Managed Municipal Income Trust buyer in Q4 2013 was Morgan Stanley, an estimated $1.16M added.
- The largest Franklin Managed Municipal Income Trust seller in Q4 2013 was Fir Tree Capital Management, an estimated $2.16M sold.
Based on aggregated 13F filings for Q4 2013.