Of America Corp /De/ Bank Buys 2,790 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM) Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank bought 2,790 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were acquired at an average price of $7.35 per share, with a total value of $20,506.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Performance

PMM stock opened at $6.05 on Friday. 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 $6.29 and a two-hundred day simple moving average of $6.30.

Putnam Managed Municipal Income Trust Dividend Announcement

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

Institutional Trading of Putnam Managed Municipal Income Trust

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