Franklin Managed Municipal Income Trust
PMM
66 hedge funds and large institutions have $40.7M invested in Franklin Managed Municipal Income Trust in 2015 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 20 increasing their positions, 13 reducing their positions, and 9 closing their positions.
54% more repeat investments, than reductions
Existing positions increased: 20 | Existing positions reduced: 13
4% more capital invested
Capital invested by funds: $39.1M → $40.7M (+$1.6M)
0.29% more ownership
Funds ownership: 9.62% → 9.91% (+0.29%)
4% less funds holding
Funds holding: 69 → 66 (-3)
22% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 9
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$2.96M |
| 2 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$1.54M |
| 3 |
LSA
Liberty Street Advisors
New York
|
+$1.41M |
| 4 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$711K |
| 5 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$331K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$3.53M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
-$1.13M |
| 3 |
NCM
Newgate Capital Management
Greenwich,
Connecticut
|
-$1.12M |
| 4 |
MIG
Mariner Investment Group
Harrison,
New York
|
-$907K |
| 5 |
ACM
Akanthos Capital Management
Woodland Hills,
California
|
-$906K |
PMM Hedge Fund Activity: Q1 2015 in Review
66 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q1 2015, worth a combined $40.7M — up 4.1% from $39.1M a quarter earlier.
Sellers outnumbered buyers: 9 funds closed out of PMM and 7 opened new positions — a net loss of 2 holders — while 13 trimmed existing stakes and 20 added.
The largest buyer was Bank of America, adding an estimated $2.96M. The largest seller was Morgan Stanley, cutting an estimated $3.53M.
- 66 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q1 2015, down from 69 in Q4 2014.
- Funds reported $40.7M of Franklin Managed Municipal Income Trust stock for Q1 2015, up 4.1% quarter-over-quarter.
- 7 funds opened new Franklin Managed Municipal Income Trust positions in Q1 2015 and 9 closed out, a net change of -2 holders.
- The largest Franklin Managed Municipal Income Trust buyer in Q1 2015 was Bank of America, an estimated $2.96M added.
- The largest Franklin Managed Municipal Income Trust seller in Q1 2015 was Morgan Stanley, an estimated $3.53M sold.
Based on aggregated 13F filings for Q1 2015.