Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Purchases $20,506.50 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank acquired 2,790 shares of the stock in a transaction dated Thursday, January 15th. The shares were purchased at an average price of $7.35 per share, for a total transaction of $20,506.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM traded down $0.04 during mid-day trading on Friday, reaching $6.05. The company’s stock had a trading volume of 126,960 shares, compared to its average volume of 104,974. Putnam Managed Municipal Income Trust has a 1-year low of $5.82 and a 1-year high of $6.61. The business has a 50-day simple moving average of $6.30 and a two-hundred day simple moving average of $6.30.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.72%.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

Large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust during the 3rd quarter worth approximately $70,000. Wolverine Asset Management LLC lifted its holdings in shares of Putnam Managed Municipal Income Trust by 92.3% during the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock worth $831,000 after buying an additional 61,240 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at about $25,000. 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 acquiring an additional 1,728 shares in the last quarter. Finally, Clear Creek Financial Management LLC increased its position in Putnam Managed Municipal Income Trust by 21.2% during the third quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after acquiring an additional 6,000 shares during the period. 13.54% of the stock is owned by institutional investors.

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.