Putnam Managed Municipal Income Trust (NYSE:PMM) Announces $0.02 Monthly Dividend

Putnam Managed Municipal Income Trust (NYSE:PMM) announced a monthly dividend on Monday, February 10th,NASDAQ Dividends reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.0238 per share on Monday, March 3rd. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, February 24th.

Putnam Managed Municipal Income Trust has decreased its dividend payment by an average of 6.9% annually over the last three years.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM stock traded up $0.01 on Tuesday, hitting $6.24. 137,587 shares of the company’s stock were exchanged, compared to its average volume of 145,866. 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 $6.16 and a 200 day moving average of $6.29.

Insider Activity at Putnam Managed Municipal Income Trust

In other news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the stock in a transaction on 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 acquisition, the insider now directly owns 16,585 shares in the company, valued at approximately $99,841.70. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.01% of the stock is currently owned by insiders.

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.