Insider Buying: Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Acquires 2,790 Shares of Stock

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) major shareholder Of America Corp /De/ Bank acquired 2,790 shares of the company's stock in a transaction that occurred on Thursday, January 15th. The stock was acquired at an average price of $7.35 per share, with a total value of $20,506.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Down 0.7 %

PMM traded down $0.04 during midday trading on Friday, hitting $6.05. 126,960 shares of the company were exchanged, compared to its average volume of 104,974. The firm's 50 day moving average price is $6.29 and its 200-day moving average price is $6.30. Putnam Managed Municipal Income Trust has a 1-year low of $5.82 and a 1-year high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 23rd will be issued a $0.0238 dividend. This represents a $0.29 annualized dividend and a yield of 4.72%. The ex-dividend date is Monday, December 23rd.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its position in shares of Putnam Managed Municipal Income Trust by 6.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company's stock worth $186,000 after acquiring an additional 1,728 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Putnam Managed Municipal Income Trust by 4.7% in the second quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company's stock worth $370,000 after purchasing an additional 2,658 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Putnam Managed Municipal Income Trust in the third quarter valued at approximately $25,000. WealthBridge Capital Management LLC boosted its holdings in shares of Putnam Managed Municipal Income Trust by 10.5% during the 3rd quarter. WealthBridge Capital Management LLC now owns 52,250 shares of the company's stock worth $340,000 after buying an additional 4,950 shares in the last quarter. Finally, Clear Creek Financial Management LLC grew its position in shares of Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company's stock worth $224,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds 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.