Franklin Managed Municipal Income Trust
PMM
73 hedge funds and large institutions have $42M invested in Franklin Managed Municipal Income Trust in 2019 Q3 according to their latest regulatory filings, with 7 funds opening new positions, 14 increasing their positions, 20 reducing their positions, and 6 closing their positions.
17% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 6
1% more funds holding
Funds holding: 72 → 73 (+1)
1.29% less ownership
Funds ownership: 12.19% → 10.9% (-1.3%)
30% less repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 20
42% less capital inflows, than outflows
Capital inflows: $6.75M | Capital outflows: $11.6M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$4.5M |
| 2 |
Ameriprise
Minneapolis,
Minnesota
|
+$443K |
| 3 |
Altium Wealth Management
Purchase,
New York
|
+$341K |
| 4 |
Providence First Trust
Scottsdale,
Arizona
|
+$260K |
| 5 |
Invesco
Atlanta,
Georgia
|
+$234K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$4.44M |
| 2 |
Envestnet Asset Management
Chicago,
Illinois
|
-$2.22M |
| 3 |
United Capital Financial Advisors
Irving,
Texas
|
-$1.56M |
| 4 |
Guggenheim Capital
Chicago,
Illinois
|
-$855K |
| 5 |
Morgan Stanley
New York
|
-$550K |
PMM Hedge Fund Activity: Q3 2019 in Review
73 of the 4,576 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q3 2019, worth a combined $42M — down 8.4% from $45.8M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new PMM positions and 6 closed out — a net gain of 1 holder — while 14 added to existing stakes and 20 trimmed.
The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $4.5M. The largest seller was Robinson Capital Management, exiting entirely with an estimated $4.44M sold.
- 73 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q3 2019, up from 72 in Q2 2019.
- Funds reported $42M of Franklin Managed Municipal Income Trust stock for Q3 2019, down 8.4% quarter-over-quarter.
- 7 funds opened new Franklin Managed Municipal Income Trust positions in Q3 2019 and 6 closed out, a net change of +1 holder.
- The largest Franklin Managed Municipal Income Trust buyer in Q3 2019 was Rivernorth Capital Management, an estimated $4.5M added.
- The largest Franklin Managed Municipal Income Trust seller in Q3 2019 was Robinson Capital Management, an estimated $4.44M sold.
Based on aggregated 13F filings for Q3 2019.