Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Sells $15,820.00 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $7.91, for a total value of $15,820.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Down 0.7 %

Shares of NYSE PMM opened at $6.05 on Monday. Putnam Managed Municipal Income Trust has a 1 year low of $5.82 and a 1 year high of $6.61. The firm’s 50-day moving average is $6.29 and its 200-day moving average is $6.31.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently declared 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. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Monday, December 23rd.

Institutional Trading of Putnam Managed Municipal Income Trust

Several hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings 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 purchasing an additional 52,058 shares in the last quarter. Raymond James & Associates boosted its position 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 worth $2,736,000 after buying an additional 29,456 shares during the period. Clear Creek Financial Management LLC grew its holdings in shares of Putnam Managed Municipal Income Trust by 97.6% during the second quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock worth $176,000 after buying an additional 14,000 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Putnam Managed Municipal Income Trust in the 2nd quarter valued at approximately $1,569,000. Finally, Commonwealth Equity Services LLC lifted its stake in Putnam Managed Municipal Income Trust by 4.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company’s stock valued at $370,000 after acquiring an additional 2,658 shares in the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

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.