Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Buys $14,489.20 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank bought 2,035 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average price of $7.12 per share, for a total transaction of $14,489.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large 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 Stock Performance

Putnam Managed Municipal Income Trust stock 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 firm’s 50 day moving average price is $6.29 and its two-hundred day moving average price is $6.30.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend 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

Several hedge funds have recently modified their holdings of the stock. Clear Creek Financial Management LLC raised its holdings in Putnam Managed Municipal Income Trust by 97.6% during the 2nd quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock worth $176,000 after buying an additional 14,000 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Putnam Managed Municipal Income Trust in the second quarter worth approximately $58,000. Rothschild Investment LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the second quarter valued at approximately $1,569,000. Commonwealth Equity Services LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 4.7% in 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 in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Putnam Managed Municipal Income Trust by 14.7% in the 2nd 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 during the period. 13.54% of the stock is owned by hedge funds and other institutional investors.

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.