Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Sells 2,035 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) major shareholder Of America Corp /De/ Bank sold 2,035 shares of the firm's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $7.08, for a total transaction of $14,407.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions 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. Putnam Managed Municipal Income Trust has a 52-week low of $5.82 and a 52-week high of $6.61. The business's fifty day moving average price is $6.29 and its 200 day moving average price is $6.30.

Putnam Managed Municipal Income Trust Announces Dividend

The firm 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 $0.0238 dividend. The ex-dividend date is Monday, December 23rd. This represents a $0.29 annualized dividend and a dividend yield of 4.72%.

Institutional Trading of Putnam Managed Municipal Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PMM. International Assets Investment Management LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 554.5% during the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company's stock worth $400,000 after purchasing an additional 52,058 shares in the last quarter. 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. Clear Creek Financial Management LLC grew its stake in Putnam Managed Municipal Income Trust by 97.6% during the 2nd quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company's stock valued at $176,000 after acquiring an additional 14,000 shares in the last quarter. Rothschild Investment LLC bought a new position in Putnam Managed Municipal Income Trust during the second quarter valued at approximately $1,569,000. Finally, Commonwealth Equity Services LLC grew its position in shares of 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 valued at $370,000 after purchasing an additional 2,658 shares during the last quarter. 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.