Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Buys $14,489.20 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) major shareholder Of America Corp /De/ Bank purchased 2,035 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average price of $7.12 per share, with a total value of $14,489.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Price Performance

NYSE PMM traded down $0.04 on Friday, hitting $6.05. The stock had a trading volume of 126,960 shares, 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 one year low of $5.82 and a one year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.0238 per share. This represents a $0.29 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Monday, December 23rd.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Raymond James & Associates raised its holdings 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 period. Van ECK Associates Corp lifted 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 in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 2nd quarter valued at approximately $1,569,000. Wolverine Asset Management LLC boosted its stake in Putnam Managed Municipal Income Trust by 92.3% in the 3rd 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 period. Finally, International Assets Investment Management LLC raised its stake 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 valued at $400,000 after purchasing an additional 52,058 shares during the period. 13.54% of the stock is owned by institutional investors and hedge funds.

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.