Of America Corp /De/ Bank Buys 2,790 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM) Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank purchased 2,790 shares of the stock in a transaction on Thursday, January 15th. The stock was bought at an average cost of $7.35 per share, for a total transaction of $20,506.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Down 0.7 %

Putnam Managed Municipal Income Trust stock opened at $6.05 on Friday. The stock’s 50 day moving average is $6.29 and its 200-day moving average is $6.30. Putnam Managed Municipal Income Trust has a 12 month low of $5.82 and a 12 month high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed 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. 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

A number of hedge funds and other institutional investors have recently modified their holdings of PMM. Ashton Thomas Securities LLC bought a new position in Putnam Managed Municipal Income Trust during the third quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the second quarter worth approximately $58,000. Ackerman Capital Advisors LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at approximately $70,000. Sanctuary Advisors LLC bought a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at approximately $70,000. Finally, Arbor Trust Wealth Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust during the second quarter worth approximately $81,000. Institutional investors and hedge funds own 13.54% of the company’s stock.

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.