Kennedy Investment Group Cuts Stock Position in Putnam Managed Municipal Income Trust (NYSE:PMM)

Kennedy Investment Group trimmed its holdings in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,908 shares of the company’s stock after selling 17,140 shares during the quarter. Kennedy Investment Group owned approximately 0.51% of Putnam Managed Municipal Income Trust worth $1,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Concurrent Investment Advisors LLC raised its position in Putnam Managed Municipal Income Trust by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after acquiring an additional 1,728 shares during the period. Avior Wealth Management LLC raised its position in shares of Putnam Managed Municipal Income Trust by 235.9% during the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock worth $25,000 after purchasing an additional 2,909 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Putnam Managed Municipal Income Trust in the third quarter valued at approximately $25,000. WealthBridge Capital Management LLC boosted its stake in Putnam Managed Municipal Income Trust by 10.5% during the 3rd quarter. WealthBridge Capital Management LLC now owns 52,250 shares of the company’s stock worth $340,000 after purchasing an additional 4,950 shares during the last quarter. Finally, Clear Creek Financial Management LLC boosted its holdings in shares of Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after purchasing an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Down 1.1 %

Shares of PMM stock opened at $6.15 on Wednesday. Putnam Managed Municipal Income Trust has a 12 month low of $5.82 and a 12 month high of $6.61. The firm’s 50-day moving average is $6.17 and its two-hundred day moving average is $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 24th will be paid a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Friday, January 24th.

Insider Activity

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction dated Friday, January 10th. The shares were acquired at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust 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.