Insider Selling: Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Sells 2,000 Shares of Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 2,000 shares of Putnam Managed Municipal Income Trust stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $7.91, for a total transaction of $15,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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

Shares of NYSE:PMM traded down $0.04 on Friday, hitting $6.05. 126,960 shares of the company were exchanged, compared to its average volume of 104,974. Putnam Managed Municipal Income Trust has a one year low of $5.82 and a one year high of $6.61. The company’s 50 day moving average price is $6.30 and its two-hundred day moving average price is $6.30.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 23rd will be issued 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 dividend 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 the stock. Concurrent Investment Advisors LLC raised its stake 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 buying an additional 1,728 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Putnam Managed Municipal Income Trust by 4.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company’s stock worth $370,000 after purchasing an additional 2,658 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. WealthBridge Capital Management LLC boosted its holdings in Putnam Managed Municipal Income Trust by 10.5% during the third quarter. WealthBridge Capital Management LLC now owns 52,250 shares of the company’s stock worth $340,000 after buying an additional 4,950 shares during the last quarter. Finally, Clear Creek Financial Management LLC grew its position in shares of Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds 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.