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

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 2,035 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $7.08, for a total value of $14,407.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM opened at $6.05 on Friday. The firm has a fifty day moving average price of $6.29 and a 200-day moving average price of $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 Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 23rd will be given a dividend of $0.0238 per share. This represents a $0.29 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend 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 bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in Putnam Managed Municipal Income Trust during the 2nd quarter valued at about $1,569,000. Wolverine Asset Management LLC increased its holdings 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 buying an additional 61,240 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Putnam Managed Municipal Income Trust by 554.5% in the 3rd 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 during the period. Van ECK Associates Corp lifted 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 valued at $2,067,000 after purchasing an additional 42,667 shares in the last quarter. Finally, Raymond James & Associates boosted its stake 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 worth $2,736,000 after acquiring an additional 29,456 shares during the last quarter. Hedge funds and other institutional investors 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.