Putnam Managed Municipal Income Trust (NYSE:PMM) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 48.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,915 shares of the company’s stock after selling 81,496 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.18% of Putnam Managed Municipal Income Trust worth $522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor Resource Council acquired a new position in shares of Putnam Managed Municipal Income Trust during the 4th quarter worth approximately $300,000. B. Riley Wealth Advisors Inc. raised its position in shares of Putnam Managed Municipal Income Trust by 4.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 45,312 shares of the company’s stock worth $249,000 after purchasing an additional 2,101 shares during the last quarter. Royal Bank of Canada raised its position in shares of Putnam Managed Municipal Income Trust by 44.1% during the 3rd quarter. Royal Bank of Canada now owns 75,679 shares of the company’s stock worth $414,000 after purchasing an additional 23,145 shares during the last quarter. Robinson Capital Management LLC acquired a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter worth approximately $1,496,000. Finally, Wolverine Asset Management LLC raised its position in shares of Putnam Managed Municipal Income Trust by 356.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 74,763 shares of the company’s stock worth $409,000 after purchasing an additional 58,381 shares during the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Stock Performance

Shares of Putnam Managed Municipal Income Trust stock opened at $5.89 on Friday. Putnam Managed Municipal Income Trust has a 1 year low of $5.00 and a 1 year high of $6.42. The business has a 50 day moving average price of $6.07 and a 200 day moving average price of $5.88.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 24th will be issued a $0.0238 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.29 annualized dividend and a yield of 4.85%.

Putnam Managed Municipal Income Trust 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.