Of America Corp /De/ Bank Acquires 16,585 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM) Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank bought 16,585 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the acquisition, the insider now owns 16,585 shares of the company’s stock, valued at $99,841.70. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Up 1.3 %

NYSE:PMM opened at $6.08 on Thursday. The company has a 50 day moving average price of $6.18 and a 200-day moving average price of $6.29. Putnam Managed Municipal Income Trust has a 1-year low of $5.82 and a 1-year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 24th will be issued a $0.0238 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.70%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its position in shares of Putnam Managed Municipal Income Trust by 4.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company’s stock valued at $370,000 after acquiring an additional 2,658 shares during the period. WealthBridge Capital Management LLC grew its holdings in Putnam Managed Municipal Income Trust by 10.5% in the third quarter. WealthBridge Capital Management LLC now owns 52,250 shares of the company’s stock valued at $340,000 after purchasing an additional 4,950 shares during the period. Raymond James & Associates increased its position in shares of Putnam Managed Municipal Income Trust by 7.5% in the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock valued at $2,736,000 after buying an additional 29,456 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Putnam Managed Municipal Income Trust by 554.5% during the 3rd quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock worth $400,000 after buying an additional 52,058 shares during the period. Finally, Ackerman Capital Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at approximately $70,000. 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.