Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Buys 1,536 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) major shareholder Of America Corp /De/ Bank purchased 1,536 shares of the stock in a transaction on Wednesday, April 15th. The shares were acquired at an average cost of $7.40 per share, for a total transaction of $11,366.40. Following the transaction, the insider now owns 1,536 shares of the company's stock, valued at approximately $11,366.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Stock Down 0.7 %

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

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 23rd will be paid 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 hedge funds have recently added to or reduced their stakes in PMM. International Assets Investment Management LLC raised its holdings 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 acquiring an additional 52,058 shares during the period. Raymond James & Associates lifted its stake in Putnam Managed Municipal Income Trust by 7.5% in the 3rd quarter. Raymond James & Associates now owns 420,283 shares of the company's stock worth $2,736,000 after purchasing an additional 29,456 shares in the last quarter. Clear Creek Financial Management LLC grew its position in shares of 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 purchasing an additional 14,000 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Putnam Managed Municipal Income Trust in the second quarter worth $1,569,000. Finally, Commonwealth Equity Services LLC raised 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 worth $370,000 after buying an additional 2,658 shares in 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.