Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Sells 2,000 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) major shareholder Of America Corp /De/ Bank sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $7.91, for a total value of $15,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM traded down $0.04 during midday trading on Friday, reaching $6.05. 126,960 shares of the stock were exchanged, compared to its average volume of 104,974. The company's 50 day moving average is $6.29 and its two-hundred day moving average is $6.30. 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 firm also recently declared 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 of this dividend is Monday, December 23rd. This represents a $0.29 annualized dividend and a dividend yield of 4.72%.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of large investors have recently bought and sold shares of PMM. Raymond James & Associates grew its stake in Putnam Managed Municipal Income Trust by 7.5% during the 3rd quarter. Raymond James & Associates now owns 420,283 shares of the company's stock worth $2,736,000 after buying an additional 29,456 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Putnam Managed Municipal Income Trust by 14.7% in the 2nd quarter. Van ECK Associates Corp now owns 333,409 shares of the company's stock valued at $2,067,000 after acquiring an additional 42,667 shares during the period. Rothschild Investment LLC acquired a new position in shares of Putnam Managed Municipal Income Trust in the 2nd quarter valued at $1,569,000. Wolverine Asset Management LLC raised its stake in shares of 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. Finally, International Assets Investment Management LLC raised its position in Putnam Managed Municipal Income Trust by 554.5% during the 3rd quarter. International Assets Investment Management LLC now owns 61,446 shares of the company's stock worth $400,000 after buying an additional 52,058 shares during the last quarter. 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.