Of America Corp /De/ Bank Acquires 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 purchased 2,790 shares of the stock in a transaction on Thursday, January 15th. The stock was acquired at an average cost of $7.35 per share, with a total value of $20,506.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Price Performance

Shares of Putnam Managed Municipal Income Trust stock traded down $0.04 on Friday, hitting $6.05. The company’s stock had a trading volume of 126,960 shares, compared to its average volume of 104,974. The firm has a fifty day moving average price of $6.30 and a 200-day moving average price of $6.30. Putnam Managed Municipal Income Trust has a 1 year low of $5.82 and a 1 year high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 23rd will be paid a $0.0238 dividend. 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.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in PMM. International Assets Investment Management LLC grew its holdings in shares of Putnam Managed Municipal Income Trust by 554.5% in the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock valued at $400,000 after purchasing an additional 52,058 shares during the period. Raymond James & Associates grew its position in Putnam Managed Municipal Income Trust by 7.5% in the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock worth $2,736,000 after acquiring an additional 29,456 shares during the period. Clear Creek Financial Management LLC increased its stake in Putnam Managed Municipal Income Trust by 97.6% during the second quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock worth $176,000 after acquiring an additional 14,000 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Putnam Managed Municipal Income Trust in the second quarter valued at $1,569,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of 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 worth $370,000 after purchasing an additional 2,658 shares during the period. Hedge funds and other institutional investors own 13.54% of the company’s stock.

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.