Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Acquires 2,035 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank bought 2,035 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average cost of $7.12 per share, with a total value of $14,489.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Trading Down 0.7 %

Shares of PMM opened at $6.05 on Friday. Putnam Managed Municipal Income Trust has a 1 year low of $5.82 and a 1 year high of $6.61. The stock has a 50-day simple moving average of $6.29 and a 200-day simple moving average of $6.30.

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 issued a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a yield of 4.72%. The ex-dividend date is Monday, December 23rd.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Large investors have recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in shares of Putnam Managed Municipal Income Trust in the 2nd quarter valued at about $1,569,000. Wolverine Asset Management LLC increased its stake in Putnam Managed Municipal Income Trust by 92.3% in the third 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. International Assets Investment Management LLC raised its holdings in Putnam Managed Municipal Income Trust by 554.5% during the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock worth $400,000 after purchasing an additional 52,058 shares in the last quarter. Van ECK Associates Corp raised its holdings in Putnam Managed Municipal Income Trust by 14.7% during the second quarter. Van ECK Associates Corp now owns 333,409 shares of the company’s stock worth $2,067,000 after purchasing an additional 42,667 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Putnam Managed Municipal Income Trust by 7.5% during the 3rd quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock worth $2,736,000 after buying an additional 29,456 shares during the last quarter. 13.54% of the stock is owned by hedge funds and other institutional investors.

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.