Robinson Capital Management LLC Has $1.89 Million Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

Robinson Capital Management LLC decreased its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 18.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 316,401 shares of the company’s stock after selling 72,269 shares during the quarter. Putnam Managed Municipal Income Trust comprises approximately 0.8% of Robinson Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Robinson Capital Management LLC owned about 0.68% of Putnam Managed Municipal Income Trust worth $1,889,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Raymond James & Associates increased its position in Putnam Managed Municipal Income Trust by 7.5% in the 3rd 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 grew its stake in Putnam Managed Municipal Income Trust by 554.5% in the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock valued at $400,000 after acquiring an additional 52,058 shares during the period. Ackerman Capital Advisors LLC bought a new stake in shares of Putnam Managed Municipal Income Trust during the third quarter valued at approximately $70,000. Clear Creek Financial Management LLC raised its position in shares of Putnam Managed Municipal Income Trust by 21.2% during the third 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 period. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Putnam Managed Municipal Income Trust by 6.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after purchasing an additional 1,728 shares in the last quarter. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM stock opened at $6.37 on Tuesday. The firm has a fifty day simple moving average of $6.15 and a two-hundred day simple moving average of $6.29. 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 firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 24th will be given a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, February 24th.

Insider Buying and Selling

In related news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was acquired at an average price 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 represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.01% of the stock is currently owned by company insiders.

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.