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

Putnam Managed Municipal Income Trust (NYSE:PMM) announced a monthly dividend on Friday, March 7th, NASDAQ Dividends reports. Investors of record on Monday, March 17th will be paid a dividend of 0.0238 per share on Monday, March 31st. This represents a $0.29 annualized dividend and a yield of 4.60%. The ex-dividend date is Monday, March 17th.

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

Putnam Managed Municipal Income Trust Stock Down 0.6 %

NYSE PMM traded down $0.04 during trading hours on Friday, hitting $6.20. The company had a trading volume of 68,304 shares, compared to its average volume of 142,007. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.82 and a fifty-two week high of $6.61. The firm’s 50 day moving average is $6.18 and its 200 day moving average is $6.28.

Insider Activity at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the acquisition, the insider now 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 can be accessed through the SEC website. 0.01% of the stock is owned by insiders.

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.