Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Purchases $99,841.70 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank bought 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction dated Friday, January 10th. The stock was acquired at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the transaction, the insider now directly owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Stock Up 1.3 %

Shares of NYSE PMM opened at $6.08 on Thursday. Putnam Managed Municipal Income Trust has a 12-month low of $5.82 and a 12-month high of $6.61. The company has a 50-day moving average of $6.18 and a 200 day moving average of $6.29.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 24th will be given a $0.0238 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.70%.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in Putnam Managed Municipal Income Trust during the third quarter worth $70,000. Wolverine Asset Management LLC boosted its position in shares of Putnam Managed Municipal Income Trust by 92.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after acquiring an additional 61,240 shares during the last quarter. Ashton Thomas Securities LLC purchased 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 holdings 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 purchasing an additional 1,728 shares during the period. 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 purchasing an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 13.54% of the company’s stock.

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.