B. Riley Wealth Advisors Inc. Cuts Stake in Putnam Managed Municipal Income Trust (NYSE:PMM)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 36.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,163 shares of the company’s stock after selling 12,533 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Putnam Managed Municipal Income Trust were worth $145,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PMM. Sanctuary Advisors LLC purchased a new stake in Putnam Managed Municipal Income Trust in the third quarter valued at about $70,000. Wolverine Asset Management LLC raised its position in shares of Putnam Managed Municipal Income Trust by 92.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after purchasing an additional 61,240 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Putnam Managed Municipal Income Trust in the 3rd quarter worth approximately $25,000. Concurrent Investment Advisors LLC grew its position in Putnam Managed Municipal Income Trust by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after purchasing an additional 1,728 shares during the last quarter. Finally, Clear Creek Financial Management LLC grew its position in Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Down 0.7 %

NYSE PMM opened at $6.05 on Monday. Putnam Managed Municipal Income Trust has a 12-month low of $5.82 and a 12-month high of $6.61. The company has a fifty day simple moving average of $6.29 and a two-hundred day simple moving average of $6.31.

Putnam Managed Municipal Income Trust Dividend Announcement

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

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.