Putnam Managed Municipal Income Trust (NYSE:PMM) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its stake in Putnam Managed Municipal Income Trust (NYSE:PMM - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 797,465 shares of the company's stock after acquiring an additional 148,493 shares during the period. Advisors Asset Management Inc. owned 1.72% of Putnam Managed Municipal Income Trust worth $4,761,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PMM. Sanctuary Advisors LLC acquired a new position in Putnam Managed Municipal Income Trust during the 3rd quarter valued at approximately $70,000. Avior Wealth Management LLC lifted its stake in Putnam Managed Municipal Income Trust by 235.9% in the fourth quarter. Avior Wealth Management LLC now owns 4,142 shares of the company's stock valued at $25,000 after buying an additional 2,909 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Putnam Managed Municipal Income Trust by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 341,484 shares of the company's stock valued at $2,039,000 after acquiring an additional 11,828 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Putnam Managed Municipal Income Trust during the fourth quarter worth about $350,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter worth about $104,000. 13.54% of the stock is owned by institutional investors.

Putnam Managed Municipal Income Trust Trading Up 0.6 %

NYSE:PMM traded up $0.04 during mid-day trading on Monday, hitting $6.31. The stock had a trading volume of 611,523 shares, compared to its average volume of 115,499. The company has a 50 day simple moving average of $6.21 and a 200-day simple moving average of $6.27. Putnam Managed Municipal Income Trust has a 52 week low of $5.83 and a 52 week high of $6.61.

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Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.0238 per share. The ex-dividend date is Monday, March 17th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.53%.

Insider Transactions at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the business's stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the purchase, the insider now directly owns 16,585 shares in the company, valued at $99,841.70. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.01% of the company's stock.

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.