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PMM

Franklin Managed Municipal Income Trust

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.

New
Increased
Maintained
Reduced
Closed

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: 6966 (-3)

22% less first-time investments, than exits

New positions opened: 7 | Existing positions closed: 9

Holders
66
Holders Change
-3
Holders Change %
-4.35%
% of All Funds
1.76%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.03%
New
7
Increased
20
Reduced
13
Closed
9
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
PPA
1
Parametric Portfolio Associates
Washington
$6.6M +$1.54M +210,374 +31%
AAM
2
Advisors Asset Management
Colorado
$4.41M +$331K +45,288 +8%
Morgan Stanley
3
Morgan Stanley
New York
$3.95M -$3.53M -483,147 -47%
Bank of America
4
Bank of America
North Carolina
$3.67M +$2.96M +404,881 +440%
MIM
5
Macroview Investment Management
Maryland
$2.36M +$262K +35,775 +13%
Wells Fargo
6
Wells Fargo
California
$1.65M +$71.2K +9,745 +5%
LSA
7
Liberty Street Advisors
New York
$1.61M +$1.41M +192,936 +767%
AA
8
AQR Arbitrage
Connecticut
$1.17M +$1.15M +157,647 New
Royal Bank of Canada
9
Royal Bank of Canada
Ontario, Canada
$1.04M -$15.8K -2,159 -2%
CIA
10
Capital Investment Advisors
Georgia
$1.03M -$4.39K -600 -0.4%
DLG
11
Daniel L. Goodwin
$895K
GC
12
Guggenheim Capital
Illinois
$768K -$117K -16,028 -13%
KIM
13
Karpus Investment Management
New York
$719K +$711K +97,300 New
UBS Group
14
UBS Group
Switzerland
$695K +$189K +25,847 +38%
LPL Financial
15
LPL Financial
California
$688K -$137K -18,701 -17%
GEM
16
Global Endowment Management
North Carolina
$591K
RJA
17
Raymond James & Associates
Florida
$584K +$7.31K +1,000 +1%
VanEck Associates
18
VanEck Associates
New York
$552K +$63.5K +8,689 +13%
TCM
19
Tradewinds Capital Management
Washington
$548K
Invesco
20
Invesco
Georgia
$525K -$240K -32,787 -32%
Cambridge Investment Research Advisors
21
Cambridge Investment Research Advisors
Iowa
$461K +$54.3K +7,426 +14%
UCFA
22
United Capital Financial Advisors
Texas
$407K +$181K +24,707 +80%
Commonwealth Equity Services
23
Commonwealth Equity Services
Massachusetts
$390K +$74.5K +10,188 +24%
COLIM
24
City of London Investment Management
United Kingdom
$369K
Envestnet Asset Management
25
Envestnet Asset Management
Illinois
$367K +$138K +18,933 +62%

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.