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

Putnam Managed Municipal Income Trust (NYSE:PMM) announced a monthly dividend on Monday, March 25th, NASDAQ reports. Stockholders of record on Wednesday, April 24th will be given a dividend of 0.0238 per share on Wednesday, May 1st. This represents a $0.29 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Putnam Managed Municipal Income Trust has decreased its dividend payment by an average of 6.6% annually over the last three years.

Putnam Managed Municipal Income Trust Stock Performance

NYSE:PMM traded down $0.04 during trading hours on Tuesday, reaching $6.07. The stock had a trading volume of 140,934 shares, compared to its average volume of 112,712. Putnam Managed Municipal Income Trust has a 52 week low of $5.00 and a 52 week high of $6.42. The company has a 50 day moving average price of $6.14 and a two-hundred day moving average price of $5.84.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Large investors have recently bought and sold shares of the business. Captrust Financial Advisors bought a new stake in shares of Putnam Managed Municipal Income Trust in the 2nd quarter worth about $26,000. Quarry LP bought a new position in shares of Putnam Managed Municipal Income Trust during the 2nd quarter valued at approximately $49,000. Envestnet Asset Management Inc. bought a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at approximately $55,000. Kestra Advisory Services LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the 2nd quarter valued at approximately $61,000. Finally, Nomura Holdings Inc. bought a new position in shares of Putnam Managed Municipal Income Trust during the 1st quarter valued at approximately $61,000. Institutional investors own 12.12% of the company’s stock.

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.