Franklin Managed Municipal Income Trust
PMM
61 hedge funds and large institutions have $39.4M invested in Franklin Managed Municipal Income Trust in 2016 Q2 according to their latest regulatory filings, with 9 funds opening new positions, 19 increasing their positions, 12 reducing their positions, and 14 closing their positions.
58% more repeat investments, than reductions
Existing positions increased: 19 | Existing positions reduced: 12
2.74% less ownership
Funds ownership: 11.55% → 8.82% (-2.7%)
8% less funds holding
Funds holding: 66 → 61 (-5)
20% less capital invested
Capital invested by funds: $49.1M → $39.4M (-$9.76M)
36% less first-time investments, than exits
New positions opened: 9 | Existing positions closed: 14
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$2.59M |
| 2 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$1.1M |
| 3 |
Ameriprise
Minneapolis,
Minnesota
|
+$439K |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
+$340K |
| 5 |
UCFA
United Capital Financial Advisors
Irving,
Texas
|
+$335K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$11.2M |
| 2 |
LCM
Laurion Capital Management
New York
|
-$3.14M |
| 3 |
Morgan Stanley
New York
|
-$875K |
| 4 |
OWM
Orgel Wealth Management
Altoona,
Wisconsin
|
-$704K |
| 5 |
LPL Financial
San Diego,
California
|
-$469K |
PMM Hedge Fund Activity: Q2 2016 in Review
61 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q2 2016, worth a combined $39.4M — down 20% from $49.1M a quarter earlier.
Sellers outnumbered buyers: 14 funds closed out of PMM and 9 opened new positions — a net loss of 5 holders — while 12 trimmed existing stakes and 19 added.
The largest buyer was Guggenheim Capital, adding an estimated $2.59M. The largest seller was Parametric Portfolio Associates, exiting entirely with an estimated $11.2M sold.
- 61 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q2 2016, down from 66 in Q1 2016.
- Funds reported $39.4M of Franklin Managed Municipal Income Trust stock for Q2 2016, down 20% quarter-over-quarter.
- 9 funds opened new Franklin Managed Municipal Income Trust positions in Q2 2016 and 14 closed out, a net change of -5 holders.
- The largest Franklin Managed Municipal Income Trust buyer in Q2 2016 was Guggenheim Capital, an estimated $2.59M added.
- The largest Franklin Managed Municipal Income Trust seller in Q2 2016 was Parametric Portfolio Associates, an estimated $11.2M sold.
Based on aggregated 13F filings for Q2 2016.