Ackerman Capital Advisors LLC Purchases New Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

Ackerman Capital Advisors LLC bought a new position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,726 shares of the company’s stock, valued at approximately $70,000.

Several other large investors have also made changes to their positions in PMM. International Assets Investment Management LLC acquired a new position in Putnam Managed Municipal Income Trust during the 2nd quarter valued at about $58,000. Arbor Trust Wealth Advisors LLC acquired a new position in Putnam Managed Municipal Income Trust in the second quarter valued at approximately $81,000. Virtu Financial LLC bought a new position in Putnam Managed Municipal Income Trust in the first quarter valued at approximately $91,000. Wesbanco Bank Inc. bought a new position in Putnam Managed Municipal Income Trust in the second quarter valued at approximately $172,000. Finally, Clear Creek Financial Management LLC grew its holdings in Putnam Managed Municipal Income Trust by 97.6% during the 2nd quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock worth $176,000 after acquiring an additional 14,000 shares during the period. Institutional investors and hedge funds own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Price Performance

Shares of Putnam Managed Municipal Income Trust stock opened at $6.23 on Friday. The business has a fifty day simple moving average of $6.43 and a 200 day simple moving average of $6.22. Putnam Managed Municipal Income Trust has a 12 month low of $5.00 and a 12 month high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 24th will be given a dividend of $0.0238 per share. The ex-dividend date is Thursday, October 24th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.58%.

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.