Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Sells 1,536 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 1,536 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $7.38, for a total value of $11,335.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM opened at $6.05 on Friday. The firm has a 50-day moving average of $6.29 and a 200-day moving average of $6.30. Putnam Managed Municipal Income Trust has a one year low of $5.82 and a one year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors 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 dividend yield of 4.72%. The ex-dividend date is Monday, December 23rd.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMM. Ashton Thomas Securities LLC acquired a new position in shares of Putnam Managed Municipal Income Trust in the third quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new stake in Putnam Managed Municipal Income Trust in the 2nd quarter valued at $58,000. Ackerman Capital Advisors LLC acquired a new position in Putnam Managed Municipal Income Trust in the 3rd quarter valued at $70,000. Sanctuary Advisors LLC bought a new position in Putnam Managed Municipal Income Trust during the 3rd quarter worth $70,000. Finally, Arbor Trust Wealth Advisors LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the second quarter worth $81,000. 13.54% of the stock is owned by institutional investors.

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.