Franklin Managed Municipal Income Trust
PMM
73 hedge funds and large institutions have $36.2M invested in Franklin Managed Municipal Income Trust in 2020 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 17 increasing their positions, 17 reducing their positions, and 7 closing their positions.
57% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 7
3% more funds holding
Funds holding: 71 → 73 (+2)
0% more repeat investments, than reductions
Existing positions increased: 17 | Existing positions reduced: 17
0.07% less ownership
Funds ownership: 10.3% → 10.23% (-0.07%)
11% less capital invested
Capital invested by funds: $40.5M → $36.2M (-$4.25M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$1.08M |
| 2 |
COLIM
City of London Investment Management
London,
United Kingdom
|
+$1.04M |
| 3 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
+$580K |
| 4 |
Bank of America
Charlotte,
North Carolina
|
+$425K |
| 5 |
GI
Glovista Investments
Jersey City,
New Jersey
|
+$270K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$2.7M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$487K |
| 3 |
Morgan Stanley
New York
|
-$385K |
| 4 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$376K |
| 5 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$335K |
PMM Hedge Fund Activity: Q1 2020 in Review
73 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q1 2020, worth a combined $36.2M — down 11% from $40.5M a quarter earlier.
Buyers outnumbered sellers: 11 funds opened new PMM positions and 7 closed out — a net gain of 4 holders — while 17 added to existing stakes and 17 trimmed.
The largest buyer was Karpus Investment Management, opening a new position worth an estimated $1.08M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $2.7M sold.
- 73 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q1 2020, up from 71 in Q4 2019.
- Funds reported $36.2M of Franklin Managed Municipal Income Trust stock for Q1 2020, down 11% quarter-over-quarter.
- 11 funds opened new Franklin Managed Municipal Income Trust positions in Q1 2020 and 7 closed out, a net change of +4 holders.
- The largest Franklin Managed Municipal Income Trust buyer in Q1 2020 was Karpus Investment Management, an estimated $1.08M added.
- The largest Franklin Managed Municipal Income Trust seller in Q1 2020 was Rivernorth Capital Management, an estimated $2.7M sold.
Based on aggregated 13F filings for Q1 2020.