Of America Corp /De/ Bank Acquires 1,536 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM) Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank acquired 1,536 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were acquired at an average cost of $7.40 per share, for a total transaction of $11,366.40. Following the acquisition, the insider now directly owns 1,536 shares of the company’s stock, valued at $11,366.40. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Major 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 Down 0.7 %

NYSE:PMM opened at $6.05 on Friday. The firm’s fifty day simple moving average is $6.29 and its 200-day simple moving average is $6.30. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.82 and a fifty-two week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 23rd will be given a dividend of $0.0238 per share. The ex-dividend date is Monday, December 23rd. This represents a $0.29 annualized dividend and a yield of 4.72%.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Creek Financial Management LLC increased its stake in Putnam Managed Municipal Income Trust by 97.6% in the 2nd quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock valued at $176,000 after purchasing an additional 14,000 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Putnam Managed Municipal Income Trust in the second quarter valued at $58,000. Rothschild Investment LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the 2nd quarter worth approximately $1,569,000. Commonwealth Equity Services LLC raised its position in shares of Putnam Managed Municipal Income Trust by 4.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company’s stock worth $370,000 after purchasing an additional 2,658 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Putnam Managed Municipal Income Trust by 14.7% in the 2nd quarter. Van ECK Associates Corp now owns 333,409 shares of the company’s stock valued at $2,067,000 after buying an additional 42,667 shares in the last quarter. 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.