Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Sells 2,035 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 2,035 shares of Putnam Managed Municipal Income Trust stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $7.08, for a total transaction of $14,407.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Stock Performance

NYSE PMM traded down $0.04 during trading hours on Friday, hitting $6.05. The company had a trading volume of 126,960 shares, compared to its average volume of 104,974. The business has a 50 day moving average of $6.30 and a 200-day moving average 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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 23rd will be issued a $0.0238 dividend. The ex-dividend date is Monday, December 23rd. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.72%.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PMM. Sanctuary Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust during the 3rd quarter worth approximately $70,000. Wolverine Asset Management LLC raised its stake in shares of Putnam Managed Municipal Income Trust by 92.3% during the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock worth $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 during the third quarter worth $25,000. Concurrent Investment Advisors LLC grew its position in Putnam Managed Municipal Income Trust by 6.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after buying an additional 1,728 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its stake in Putnam Managed Municipal Income Trust by 21.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock valued at $224,000 after buying an additional 6,000 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.