Of America Corp /De/ Bank Acquires 2,035 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM) Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank bought 2,035 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $7.12 per share, for a total transaction of $14,489.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Down 0.7 %

NYSE:PMM traded down $0.04 during midday trading on Friday, hitting $6.05. The stock had a trading volume of 126,960 shares, compared to its average volume of 104,974. The stock has a 50-day moving average of $6.30 and a 200 day moving average of $6.30. Putnam Managed Municipal Income Trust has a one year low of $5.82 and a one year high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 23rd will be given a dividend of $0.0238 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $0.29 annualized dividend and a yield of 4.72%.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in Putnam Managed Municipal Income Trust by 554.5% during the 3rd quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock worth $400,000 after buying an additional 52,058 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Putnam Managed Municipal Income Trust by 7.5% during the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock valued at $2,736,000 after acquiring an additional 29,456 shares in the last quarter. Clear Creek Financial Management LLC boosted its stake in Putnam Managed Municipal Income Trust by 97.6% in the 2nd quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock worth $176,000 after purchasing an additional 14,000 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Putnam Managed Municipal Income Trust during the 2nd quarter worth approximately $1,569,000. Finally, Commonwealth Equity Services LLC increased its stake in Putnam Managed Municipal Income Trust by 4.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company’s stock valued at $370,000 after purchasing an additional 2,658 shares in the last quarter. Hedge funds and other institutional investors own 13.54% of the company’s stock.

About Putnam Managed Municipal Income Trust

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investment grade.