Robinson Capital Management LLC Sells 72,269 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

Robinson Capital Management LLC decreased its holdings in shares of Putnam Managed Municipal Income Trust (NYSE:PMM - Free Report) by 18.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 316,401 shares of the company's stock after selling 72,269 shares during the period. Putnam Managed Municipal Income Trust makes up 0.8% of Robinson Capital Management LLC's holdings, making the stock its 29th largest position. Robinson Capital Management LLC owned 0.68% of Putnam Managed Municipal Income Trust worth $1,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James & Associates raised its position in shares of 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 valued at $2,736,000 after acquiring an additional 29,456 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Putnam Managed Municipal Income Trust by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 341,484 shares of the company's stock valued at $2,039,000 after buying an additional 11,828 shares during the period. 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. International Assets Investment Management LLC boosted its stake in Putnam Managed Municipal Income Trust by 554.5% in the 3rd 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 during the period. Finally, Clear Creek Financial Management LLC boosted its stake in Putnam Managed Municipal Income Trust by 21.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company's stock worth $224,000 after purchasing an additional 6,000 shares during the period. Institutional investors own 13.54% of the company's stock.

Putnam Managed Municipal Income Trust Price Performance

NYSE PMM traded down $0.04 on Friday, reaching $6.33. The company had a trading volume of 91,683 shares, compared to its average volume of 151,291. The company's fifty day moving average is $6.15 and its 200-day moving average is $6.29. 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 firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 24th will be paid a dividend of $0.0238 per share. The ex-dividend date is Monday, February 24th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.52%.

Insider Transactions at Putnam Managed Municipal Income Trust

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction dated Friday, January 10th. The stock was bought at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the purchase, the insider now directly owns 16,585 shares in the company, valued at approximately $99,841.70. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.01% 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.