Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Sells 2,000 Shares of Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 2,000 shares of Putnam Managed Municipal Income Trust stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $7.91, for a total value of $15,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Price Performance

Shares of NYSE:PMM opened at $6.05 on Friday. The business has a 50-day moving average price of $6.29 and a 200 day moving average price 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 declared a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 23rd will be paid 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.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

Several large investors have recently made changes to their positions in PMM. Sanctuary Advisors LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 3rd quarter valued at $70,000. Wolverine Asset Management LLC increased its stake in 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 worth $831,000 after purchasing an additional 61,240 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the third quarter worth about $25,000. Concurrent Investment Advisors LLC boosted its stake in shares of Putnam Managed Municipal Income Trust by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after purchasing an additional 1,728 shares during the period. Finally, Clear Creek Financial Management LLC grew its holdings in shares of Putnam Managed Municipal Income Trust by 21.2% in the third quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock valued at $224,000 after purchasing an additional 6,000 shares in the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

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.