Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Purchases 16,585 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the purchase, the insider now directly owns 16,585 shares of the company’s stock, valued at $99,841.70. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Stock Performance

Shares of PMM remained flat at $6.00 during midday trading on Tuesday. The stock had a trading volume of 187,204 shares, compared to its average volume of 170,483. Putnam Managed Municipal Income Trust has a one year low of $5.82 and a one year high of $6.61. The company’s 50 day moving average price is $6.19 and its two-hundred day moving average price is $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 24th will be paid a $0.0238 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.76%.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of institutional investors have recently added to or reduced their stakes in PMM. Sanctuary Advisors LLC bought a new position in Putnam Managed Municipal Income Trust in the 3rd quarter valued at approximately $70,000. Wolverine Asset Management LLC raised its stake in shares of Putnam Managed Municipal Income Trust by 92.3% during the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after acquiring an additional 61,240 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter worth $25,000. Concurrent Investment Advisors LLC raised its position in Putnam Managed Municipal Income Trust by 6.4% during 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 during the last quarter. Finally, Clear Creek Financial Management LLC lifted its holdings in Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after buying an additional 6,000 shares during the period. 13.54% of the stock is currently owned by institutional investors and hedge funds.

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.