Insider Buying: Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Purchases $15,600.00 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $7.80 per share, with a total value of $15,600.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 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 Trading Down 0.7 %

Shares of NYSE PMM opened at $6.05 on Monday. The firm’s fifty day moving average is $6.29 and its two-hundred day moving average is $6.31. Putnam Managed Municipal Income Trust has a 52-week low of $5.82 and a 52-week high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The company 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 $0.0238 dividend. 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%.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMM. Rothschild Investment LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust during the 2nd quarter worth approximately $1,569,000. Wolverine Asset Management LLC increased its position 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 worth $831,000 after purchasing an additional 61,240 shares during the last quarter. International Assets Investment Management LLC increased its position in Putnam Managed Municipal Income Trust by 554.5% in the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock worth $400,000 after purchasing an additional 52,058 shares during the last quarter. Van ECK Associates Corp raised its stake in Putnam Managed Municipal Income Trust by 14.7% during the second quarter. Van ECK Associates Corp now owns 333,409 shares of the company’s stock valued at $2,067,000 after purchasing an additional 42,667 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Putnam Managed Municipal Income Trust by 7.5% during the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock valued at $2,736,000 after purchasing an additional 29,456 shares during the last quarter. 13.54% of the stock is owned by institutional investors.

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.