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

Putnam Managed Municipal Income Trust (NYSE:PMM - Get Free Report) major shareholder Of America Corp /De/ Bank sold 1,536 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $7.38, for a total transaction of $11,335.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Price Performance

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

Putnam Managed Municipal Income Trust Announces Dividend

The business 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 of this dividend is Monday, December 23rd.

Institutional Trading of Putnam Managed Municipal Income Trust

Several institutional investors have recently made changes to their positions in the stock. Raymond James & Associates lifted its holdings 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 buying an additional 29,456 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Putnam Managed Municipal Income Trust by 14.7% in the second quarter. Van ECK Associates Corp now owns 333,409 shares of the company's stock worth $2,067,000 after acquiring an additional 42,667 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the second quarter valued at approximately $1,569,000. Wolverine Asset Management LLC grew its stake in Putnam Managed Municipal Income Trust by 92.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company's stock worth $831,000 after buying an additional 61,240 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Putnam Managed Municipal Income Trust by 554.5% in the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company's stock worth $400,000 after buying an additional 52,058 shares during the period. 13.54% of the stock is owned by hedge funds and other institutional investors.

Putnam Managed Municipal Income Trust Company Profile

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.