Putnam Managed Municipal Income Trust (NYSE:PMM) Plans $0.02 Monthly Dividend

Putnam Managed Municipal Income Trust (NYSE:PMM) announced a monthly dividend on Wednesday, January 8th,NASDAQ Dividends reports. Investors of record on Friday, January 24th will be paid a dividend of 0.0238 per share on Monday, February 3rd. This represents a $0.29 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, January 24th.

Putnam Managed Municipal Income Trust has decreased its dividend by an average of 6.9% annually over the last three years.

Putnam Managed Municipal Income Trust Stock Up 0.7 %

Shares of NYSE:PMM opened at $6.18 on Wednesday. Putnam Managed Municipal Income Trust has a one year low of $5.82 and a one year high of $6.61. The company has a 50-day simple moving average of $6.17 and a 200-day simple moving average of $6.29.

Insider Transactions at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the stock in a transaction dated Friday, January 10th. The shares were acquired at an average cost of $6.02 per share, with a total value of $99,841.70. Following the purchase, the insider now directly owns 16,585 shares in the company, valued at $99,841.70. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.01% 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.