Thomas J. Herzfeld Advisors Inc. Acquires 7,543 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

Thomas J. Herzfeld Advisors Inc. lifted its holdings in Putnam Managed Municipal Income Trust (NYSE:PMM) by 21.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 43,341 shares of the company’s stock after buying an additional 7,543 shares during the period. Thomas J. Herzfeld Advisors Inc.’s holdings in Putnam Managed Municipal Income Trust were worth $259,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Avior Wealth Management LLC increased its stake in Putnam Managed Municipal Income Trust by 235.9% during the fourth quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock worth $25,000 after acquiring an additional 2,909 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at approximately $66,000. Sanctuary Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust in the 3rd quarter worth approximately $70,000. Noble Wealth Management PBC bought a new position in shares of Putnam Managed Municipal Income Trust during the 4th quarter valued at approximately $104,000. Finally, Avantax Advisory Services Inc. raised its holdings in Putnam Managed Municipal Income Trust by 34.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 55,037 shares of the company’s stock valued at $329,000 after buying an additional 14,099 shares during the period. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of $6.02 per share, with a total value of $99,841.70. Following the purchase, the insider now owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.01% of the stock is owned by corporate insiders.

Putnam Managed Municipal Income Trust Stock Down 0.2 %

NYSE PMM opened at $6.15 on Tuesday. Putnam Managed Municipal Income Trust has a 52 week low of $5.83 and a 52 week high of $6.61. The company has a fifty day moving average of $6.23 and a two-hundred day moving average of $6.26.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.0238 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.29 annualized dividend and a dividend yield of 4.65%.

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.