Putnam Managed Municipal Income Trust (NYSE:PMM) Shares Sold by Activest Wealth Management

Activest Wealth Management reduced its position in Putnam Managed Municipal Income Trust (NYSE:PMM) by 32.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,600 shares of the company’s stock after selling 6,900 shares during the period. Activest Wealth Management’s holdings in Putnam Managed Municipal Income Trust were worth $95,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC increased its stake in Putnam Managed Municipal Income Trust by 92.3% in the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after purchasing an additional 61,240 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at about $25,000. Concurrent Investment Advisors LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock worth $186,000 after purchasing an additional 1,728 shares in the last quarter. Clear Creek Financial Management LLC grew its stake in shares of 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 valued at $224,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Ackerman Capital Advisors LLC purchased a new stake in Putnam Managed Municipal Income Trust during the 3rd quarter worth approximately $70,000. 13.54% of the stock is owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Stock Up 0.3 %

Putnam Managed Municipal Income Trust stock traded up $0.02 during midday trading on Thursday, hitting $6.19. The stock had a trading volume of 6,327 shares, compared to its average volume of 101,514. Putnam Managed Municipal Income Trust has a 12 month low of $5.68 and a 12 month high of $6.61. The business has a fifty day moving average price of $6.38 and a 200 day moving average price of $6.26.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 22nd will be given a dividend of $0.0238 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.29 annualized dividend and a dividend yield of 4.61%.

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.