Insider Selling: Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Sells 2,035 Shares of Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 2,035 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $7.08, for a total transaction of $14,407.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Trading Down 0.7 %

PMM opened at $6.05 on Friday. The stock has a 50-day moving average of $6.29 and a 200 day moving average of $6.30. 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. Stockholders of record on Monday, December 23rd will be issued a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Monday, December 23rd.

Institutional Trading of Putnam Managed Municipal Income Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rothschild Investment LLC bought a new position in Putnam Managed Municipal Income Trust during the second quarter valued at $1,569,000. Wolverine Asset Management LLC boosted its stake in shares of Putnam Managed Municipal Income Trust by 92.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock worth $831,000 after purchasing an additional 61,240 shares during the period. International Assets Investment Management LLC grew its holdings in Putnam Managed Municipal Income Trust by 554.5% during the 3rd quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock valued at $400,000 after purchasing an additional 52,058 shares during the last quarter. Van ECK Associates Corp raised its position in 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 worth $2,067,000 after purchasing an additional 42,667 shares during the period. Finally, Raymond James & Associates lifted its stake in Putnam Managed Municipal Income Trust by 7.5% in the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock worth $2,736,000 after purchasing an additional 29,456 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.