Of America Corp /De/ Bank Acquires 2,000 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM) Stock

Putnam Managed Municipal Income Trust (NYSE:PMMGet Free Report) major shareholder Of America Corp /De/ Bank purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $7.80 per share, for a total transaction of $15,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Down 0.7 %

Shares of NYSE:PMM opened at $6.05 on Friday. The company has a 50 day moving average price of $6.29 and a two-hundred day moving average price of $6.30. Putnam Managed Municipal Income Trust has a 52 week low of $5.82 and a 52 week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 23rd will be given a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Monday, December 23rd.

Institutional Trading of Putnam Managed Municipal Income Trust

Several hedge funds have recently added to or reduced their stakes in PMM. Clear Creek Financial Management LLC increased its holdings in shares of Putnam Managed Municipal Income Trust by 97.6% in the second 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 in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Putnam Managed Municipal Income Trust in the 2nd quarter valued at approximately $58,000. Rothschild Investment LLC bought a new stake in Putnam Managed Municipal Income Trust during the 2nd quarter worth approximately $1,569,000. Commonwealth Equity Services LLC raised its holdings in Putnam Managed Municipal Income Trust by 4.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company’s stock worth $370,000 after buying an additional 2,658 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Putnam Managed Municipal Income Trust by 14.7% in the second quarter. Van ECK Associates Corp now owns 333,409 shares of the company’s stock valued at $2,067,000 after buying an additional 42,667 shares in the last quarter. Institutional investors and hedge funds own 13.54% of the company’s stock.

About Putnam Managed Municipal Income Trust

(Get Free Report)

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.

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