Advisors Asset Management Inc. Increases Stock Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

Advisors Asset Management Inc. lifted its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 797,465 shares of the company’s stock after purchasing an additional 148,493 shares during the quarter. Advisors Asset Management Inc. owned about 1.72% of Putnam Managed Municipal Income Trust worth $4,761,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in Putnam Managed Municipal Income Trust during the 3rd quarter worth $70,000. Van ECK Associates Corp increased its stake in shares of Putnam Managed Municipal Income Trust by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 341,484 shares of the company’s stock worth $2,039,000 after acquiring an additional 11,828 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Putnam Managed Municipal Income Trust during the fourth quarter worth about $350,000. Noble Wealth Management PBC acquired a new stake in Putnam Managed Municipal Income Trust in the fourth quarter valued at about $104,000. Finally, Raymond James Financial Inc. purchased a new stake in Putnam Managed Municipal Income Trust in the 4th quarter valued at approximately $2,720,000. 13.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 16,585 shares in the company, valued at $99,841.70. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM stock opened at $6.14 on Thursday. The stock has a 50 day simple moving average of $6.20 and a 200-day simple moving average of $6.27. Putnam Managed Municipal Income Trust has a 12-month low of $5.83 and a 12-month high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.0238 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.29 dividend on an annualized basis and a yield of 4.65%.

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.