Advisors Asset Management Inc. grew its position in Putnam Managed Municipal Income Trust (NYSE:PMM – Free Report) by 31.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 535,084 shares of the company’s stock after acquiring an additional 128,455 shares during the quarter. Advisors Asset Management Inc. owned 1.15% of Putnam Managed Municipal Income Trust worth $3,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Robinson Capital Management LLC raised its stake in Putnam Managed Municipal Income Trust by 41.9% during the fourth quarter. Robinson Capital Management LLC now owns 404,437 shares of the company’s stock valued at $2,467,000 after purchasing an additional 119,424 shares in the last quarter. Bridgewater Advisors Inc. bought a new position in shares of Putnam Managed Municipal Income Trust in the 1st quarter valued at about $456,000. International Assets Investment Management LLC grew its position in Putnam Managed Municipal Income Trust by 511.7% in the fourth quarter. International Assets Investment Management LLC now owns 56,454 shares of the company’s stock worth $343,000 after acquiring an additional 47,225 shares in the last quarter. WealthBridge Capital Management LLC bought a new stake in Putnam Managed Municipal Income Trust during the first quarter worth approximately $250,000. Finally, Tyche Wealth Partners LLC purchased a new stake in Putnam Managed Municipal Income Trust during the fourth quarter valued at approximately $242,000. 13.54% of the stock is owned by hedge funds and other institutional investors.
Putnam Managed Municipal Income Trust Price Performance
Shares of NYSE:PMM traded down $0.02 during trading on Friday, hitting $6.19. The company had a trading volume of 116,262 shares, compared to its average volume of 103,376. The company has a fifty day simple moving average of $6.12 and a two-hundred day simple moving average of $6.09. Putnam Managed Municipal Income Trust has a one year low of $5.00 and a one year high of $6.42.
Putnam Managed Municipal Income Trust Dividend Announcement
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.
Further Reading
- Five stocks we like better than Putnam Managed Municipal Income Trust
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- What Are Dividend Champions? How to Invest in the Champions
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Want to see what other hedge funds are holding PMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Putnam Managed Municipal Income Trust (NYSE:PMM – Free Report).
Receive News & Ratings for Putnam Managed Municipal Income Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Putnam Managed Municipal Income Trust and related companies with MarketBeat.com's FREE daily email newsletter.