Kennedy Investment Group Lowers Stock Position in Putnam Managed Municipal Income Trust (NYSE:PMM)

Kennedy Investment Group cut its position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 1.7% during the 3rd quarter, Holdings Channel reports. The firm owned 255,048 shares of the company’s stock after selling 4,473 shares during the quarter. Kennedy Investment Group’s holdings in Putnam Managed Municipal Income Trust were worth $1,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PMM. B. Riley Wealth Advisors Inc. lifted its position in shares of Putnam Managed Municipal Income Trust by 4.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 45,312 shares of the company’s stock worth $249,000 after buying an additional 1,885 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in Putnam Managed Municipal Income Trust by 4.4% during the first quarter. Avantax Advisory Services Inc. now owns 54,365 shares of the company’s stock worth $326,000 after acquiring an additional 2,276 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Putnam Managed Municipal Income Trust by 4.7% during the second quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company’s stock worth $370,000 after acquiring an additional 2,658 shares during the period. WealthBridge Capital Management LLC boosted its position in Putnam Managed Municipal Income Trust by 10.5% in the third quarter. WealthBridge Capital Management LLC now owns 52,250 shares of the company’s stock worth $340,000 after purchasing an additional 4,950 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Putnam Managed Municipal Income Trust in the 2nd quarter valued at $58,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Municipal Income Trust Trading Down 0.5 %

Shares of Putnam Managed Municipal Income Trust stock traded down $0.03 during trading hours on Monday, hitting $6.47. 17,064 shares of the company’s stock traded hands, compared to its average volume of 101,886. Putnam Managed Municipal Income Trust has a 12-month low of $5.00 and a 12-month high of $6.61. The company has a fifty day simple moving average of $6.44 and a 200-day simple moving average of $6.21.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 24th will be issued a dividend of $0.0238 per share. The ex-dividend date is Thursday, October 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.41%.

Putnam Managed Municipal Income Trust 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.