Advisors Asset Management Inc. Purchases 128,455 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

Advisors Asset Management Inc. grew its position in Putnam Managed Municipal Income Trust (NYSE:PMM) 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

The business also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 24th will be given a $0.0238 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.61%.

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.