Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Acquires 1,536 Shares

by · The Markets Daily

Putnam Managed Municipal Income Trust (NYSE:PMM – Get Free Report) major shareholder Of America Corp /De/ Bank purchased 1,536 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was acquired at an average price of $7.40 per share, for a total transaction of $11,366.40. Following the acquisition, the insider now owns 1,536 shares in the company, valued at $11,366.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Stock Performance

Shares of NYSE PMM opened at $6.05 on Friday. The company has a 50 day simple moving average of $6.29 and a two-hundred day simple moving average of $6.30. Putnam Managed Municipal Income Trust has a 12 month low of $5.82 and a 12 month high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently announced 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 of this dividend is Monday, December 23rd. This represents a $0.29 dividend on an annualized basis and a yield of 4.72%.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

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

Putnam Managed Municipal Income Trust Company Profile

(Get Free Report)

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.

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