Putnam Managed Municipal Income Trust (NYSE:PMM) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management lowered its position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 25.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 71,614 shares of the company’s stock after selling 24,544 shares during the quarter. Keudell Morrison Wealth Management owned about 0.15% of Putnam Managed Municipal Income Trust worth $428,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PMM. Sanctuary Advisors LLC purchased a new stake in Putnam Managed Municipal Income Trust during the third quarter worth approximately $70,000. International Assets Investment Management LLC increased its holdings in Putnam Managed Municipal Income Trust by 554.5% in the 3rd quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock valued at $400,000 after purchasing an additional 52,058 shares in the last quarter. Raymond James & Associates raised its position in Putnam Managed Municipal Income Trust by 7.5% in the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock valued at $2,736,000 after purchasing an additional 29,456 shares during the period. WealthBridge Capital Management LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 10.5% during 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 in the last quarter. Finally, Concurrent Investment Advisors LLC grew 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 buying an additional 1,728 shares in the last quarter. Institutional investors and hedge funds own 13.54% of the company’s stock.

Insider Activity at Putnam Managed Municipal Income Trust

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the acquisition, the insider now owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust Trading Up 0.9 %

Shares of NYSE:PMM opened at $6.21 on Friday. Putnam Managed Municipal Income Trust has a one year low of $5.82 and a one year high of $6.61. The business’s 50-day simple moving average is $6.17 and its 200 day simple moving average is $6.29.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 24th will be paid a $0.0238 dividend. The ex-dividend date is Friday, January 24th. This represents a $0.29 annualized dividend and a dividend yield of 4.60%.

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.