Thomas J. Herzfeld Advisors Inc. Grows Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

Thomas J. Herzfeld Advisors Inc. boosted its position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 21.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,341 shares of the company’s stock after acquiring an additional 7,543 shares during the period. Thomas J. Herzfeld Advisors Inc. owned 0.09% of Putnam Managed Municipal Income Trust worth $259,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Putnam Managed Municipal Income Trust during the 4th quarter valued at $66,000. Advisors Asset Management Inc. increased its stake in Putnam Managed Municipal Income Trust by 22.9% in the 4th quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company’s stock worth $4,761,000 after buying an additional 148,493 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Putnam Managed Municipal Income Trust by 34.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 55,037 shares of the company’s stock valued at $329,000 after acquiring an additional 14,099 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Putnam Managed Municipal Income Trust in the fourth quarter valued at about $2,720,000. Finally, Noble Wealth Management PBC bought a new position in shares of Putnam Managed Municipal Income Trust in the fourth quarter worth about $104,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM opened at $6.15 on Tuesday. The business’s 50 day moving average is $6.23 and its 200 day moving average is $6.26. Putnam Managed Municipal Income Trust has a 12-month low of $5.83 and a 12-month high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, March 17th.

Insider Transactions at Putnam Managed Municipal Income Trust

In other news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction dated Friday, January 10th. The shares were purchased at an average cost 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 $99,841.70. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust 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.