Insider Buying: Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Purchases $99,841.70 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were purchased at an average price of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the acquisition, the insider now owns 16,585 shares of the company’s stock, valued at $99,841.70. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Trading Up 0.4 %

NYSE:PMM opened at $6.11 on Friday. Putnam Managed Municipal Income Trust has a 52 week low of $5.82 and a 52 week high of $6.61. The firm has a 50-day moving average price of $6.18 and a two-hundred day moving average price of $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 24th will be issued a dividend of $0.0238 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Putnam Managed Municipal Income Trust during the 3rd quarter worth $25,000. Sanctuary Advisors LLC bought a new stake in Putnam Managed Municipal Income Trust in the third quarter worth about $70,000. Ackerman Capital Advisors LLC purchased a new position in Putnam Managed Municipal Income Trust in the third quarter valued at about $70,000. Concurrent Investment Advisors LLC increased its stake in shares of Putnam Managed Municipal Income Trust by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after purchasing an additional 1,728 shares during the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock valued at $224,000 after buying an additional 6,000 shares during the last quarter. 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.