Of America Corp /De/ Bank Acquires 16,585 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM) Stock

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) major shareholder Of America Corp /De/ Bank bought 16,585 shares of the stock in a transaction dated Friday, January 10th. The stock was purchased at an average cost of $6.02 per share, with a total value of $99,841.70. Following the completion of the purchase, the insider now directly owns 16,585 shares in the company, valued at approximately $99,841.70. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Price Performance

Putnam Managed Municipal Income Trust stock remained flat at $6.00 during midday trading on Tuesday. 187,204 shares of the company traded hands, compared to its average volume of 170,483. Putnam Managed Municipal Income Trust has a twelve month low of $5.82 and a twelve month high of $6.61. The firm has a 50 day moving average price of $6.19 and a two-hundred day moving average price of $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 24th will be issued a $0.0238 dividend. The ex-dividend date is Friday, January 24th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.76%.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Putnam Managed Municipal Income Trust in the third quarter valued at $25,000. Sanctuary Advisors LLC acquired a new position in shares of Putnam Managed Municipal Income Trust in the third quarter valued at approximately $70,000. Ackerman Capital Advisors LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the third quarter worth approximately $70,000. Concurrent Investment Advisors LLC lifted its holdings in Putnam Managed Municipal Income Trust by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company's stock worth $186,000 after purchasing an additional 1,728 shares during the last quarter. Finally, Clear Creek Financial Management LLC boosted its stake in Putnam Managed Municipal Income Trust by 21.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company's stock valued at $224,000 after purchasing an additional 6,000 shares during the period. 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.

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