Of America Corp /De/ Bank Purchases 2,000 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 2,000 shares of Putnam Managed Municipal Income Trust stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average cost of $7.80 per share, for a total transaction of $15,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major 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 Trading Down 0.7 %

NYSE:PMM opened at $6.05 on Friday. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.82 and a fifty-two week high of $6.61. The stock has a fifty day moving average price of $6.29 and a 200-day moving average price of $6.30.

Putnam Managed Municipal Income Trust Announces Dividend

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

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

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

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.