Franklin Managed Municipal Income Trust
PMM
66 hedge funds and large institutions have $40.4M invested in Franklin Managed Municipal Income Trust in 2016 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 22 increasing their positions, 14 reducing their positions, and 8 closing their positions.
100% more first-time investments, than exits
New positions opened: 16 | Existing positions closed: 8
57% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 14
14% more funds holding
Funds holding: 58 → 66 (+8)
0.79% more ownership
Funds ownership: 9.49% → 10.28% (+0.79%)
4% less capital invested
Capital invested by funds: $42M → $40.4M (-$1.53M)
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
+$946K |
| 2 |
Cohen & Steers
New York
|
+$764K |
| 3 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$762K |
| 4 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$538K |
| 5 |
Morgan Stanley
New York
|
+$412K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
-$1.55M |
| 2 |
VanEck Associates
New York
|
-$397K |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$335K |
| 4 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
-$266K |
| 5 |
CWM
Concert Wealth Management
San Jose,
California
|
-$238K |
PMM Hedge Fund Activity: Q4 2016 in Review
66 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q4 2016, worth a combined $40.4M — down 3.6% from $42M a quarter earlier.
Buyers outnumbered sellers: 16 funds opened new PMM positions and 8 closed out — a net gain of 8 holders — while 22 added to existing stakes and 14 trimmed.
The largest buyer was Invesco, opening a new position worth an estimated $946K. The largest seller was Envestnet Asset Management, exiting entirely with an estimated $1.55M sold.
- 66 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q4 2016, up from 58 in Q3 2016.
- Funds reported $40.4M of Franklin Managed Municipal Income Trust stock for Q4 2016, down 3.6% quarter-over-quarter.
- 16 funds opened new Franklin Managed Municipal Income Trust positions in Q4 2016 and 8 closed out, a net change of +8 holders.
- The largest Franklin Managed Municipal Income Trust buyer in Q4 2016 was Invesco, an estimated $946K added.
- The largest Franklin Managed Municipal Income Trust seller in Q4 2016 was Envestnet Asset Management, an estimated $1.55M sold.
Based on aggregated 13F filings for Q4 2016.