Insider Buying: Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Acquires 2,000 Shares of Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank acquired 2,000 shares of the stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $7.80 per share, for a total transaction of $15,600.00. The acquisition was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Stock Performance

Shares of Putnam Managed Municipal Income Trust stock traded down $0.04 during trading hours on Friday, reaching $6.05. The stock had a trading volume of 126,960 shares, compared to its average volume of 104,974. The firm has a 50 day simple moving average of $6.30 and a two-hundred day simple moving average of $6.30. Putnam Managed Municipal Income Trust has a 1 year low of $5.82 and a 1 year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 23rd will be paid a $0.0238 dividend. This represents a $0.29 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Monday, December 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in shares of Putnam Managed Municipal Income Trust during the second quarter worth approximately $58,000. Ackerman Capital Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust in the 3rd quarter valued at approximately $70,000. Sanctuary Advisors LLC bought a new stake in shares of Putnam Managed Municipal Income Trust during the third quarter valued at about $70,000. Finally, Arbor Trust Wealth Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust in the second quarter worth about $81,000. 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.