Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Buys $11,366.40 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank bought 1,536 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was purchased at an average cost of $7.40 per share, for a total transaction of $11,366.40. Following the transaction, the insider now owns 1,536 shares of the company’s stock, valued at $11,366.40. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Stock Performance

Shares of Putnam Managed Municipal Income Trust stock opened at $6.05 on Monday. The business has a 50-day moving average of $6.29 and a 200 day moving average of $6.31. 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 Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 23rd will be paid a dividend of $0.0238 per share. The ex-dividend date is Monday, December 23rd. This represents a $0.29 annualized dividend and a yield of 4.72%.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Several large investors have recently bought and sold shares of PMM. Clear Creek Financial Management LLC boosted its stake in shares of Putnam Managed Municipal Income Trust by 97.6% in the 2nd quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock valued at $176,000 after buying an additional 14,000 shares during the period. International Assets Investment Management LLC purchased a new position in Putnam Managed Municipal Income Trust in the second quarter worth approximately $58,000. Rothschild Investment LLC acquired a new position in Putnam Managed Municipal Income Trust during the 2nd quarter worth approximately $1,569,000. Commonwealth Equity Services LLC increased 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 purchasing an additional 2,658 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of 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 valued at $2,067,000 after purchasing an additional 42,667 shares during the last quarter. Hedge funds and other institutional investors own 13.54% 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.