Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Buys 2,000 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $7.80 per share, with a total value of $15,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Price Performance

Shares of Putnam Managed Municipal Income Trust stock opened at $6.05 on Friday. Putnam Managed Municipal Income Trust has a 12-month low of $5.82 and a 12-month high of $6.61. The company’s 50-day moving average price is $6.29 and its 200-day moving average price is $6.30.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 4.72%.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds have recently made changes to their positions in PMM. Raymond James & Associates increased its holdings in Putnam Managed Municipal Income Trust by 7.5% during the 3rd quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock valued at $2,736,000 after purchasing an additional 29,456 shares during the period. Van ECK Associates Corp grew its position in shares of Putnam Managed Municipal Income Trust by 14.7% in the 2nd quarter. Van ECK Associates Corp now owns 333,409 shares of the company’s stock worth $2,067,000 after buying an additional 42,667 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the second quarter valued at approximately $1,569,000. Wolverine Asset Management LLC raised its holdings in shares of Putnam Managed Municipal Income Trust by 92.3% during the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after acquiring an additional 61,240 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Putnam Managed Municipal Income Trust by 554.5% in the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock worth $400,000 after acquiring an additional 52,058 shares during the period. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Municipal Income Trust Company Profile

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.