Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Acquires $14,489.20 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank purchased 2,035 shares of the stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of $7.12 per share, for a total transaction of $14,489.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM stock opened at $6.05 on Friday. The stock’s fifty day moving average is $6.29 and its 200-day moving average is $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 business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 23rd will be issued a dividend of $0.0238 per share. This represents a $0.29 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Monday, December 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC lifted its position in Putnam Managed Municipal Income Trust by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after buying an additional 1,728 shares in the last quarter. Commonwealth Equity Services LLC lifted 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 valued at $370,000 after purchasing an additional 2,658 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the 3rd quarter worth about $25,000. WealthBridge Capital Management LLC lifted its position in 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 acquiring an additional 4,950 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its stake in shares of 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 purchasing an additional 6,000 shares during the period. 13.54% of the stock is currently 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.