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

Putnam Managed Municipal Income Trust (NYSE:PMM) announced a monthly dividend on Monday, February 10th,NASDAQ Dividends reports. Investors of record on Monday, February 24th will be given a dividend of 0.0238 per share on Monday, March 3rd. This represents a $0.29 annualized dividend and a yield of 4.58%. The ex-dividend date is Monday, February 24th.

Putnam Managed Municipal Income Trust has decreased its dividend by an average of 6.9% annually over the last three years.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM traded up $0.01 during midday trading on Tuesday, reaching $6.24. The stock had a trading volume of 137,587 shares, compared to its average volume of 145,866. Putnam Managed Municipal Income Trust has a 12-month low of $5.82 and a 12-month high of $6.61. The company’s 50-day moving average is $6.16 and its 200 day moving average is $6.29.

Insiders Place Their Bets

In related news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the stock in a transaction dated Friday, January 10th. The stock was acquired at an average cost of $6.02 per share, with a total value of $99,841.70. Following the purchase, the insider now directly owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.01% 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.