Sit Investment Associates Inc. Has $1.33 Million Stock Position in Putnam Managed Municipal Income Trust (NYSE:PMM)

Sit Investment Associates Inc. increased its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 223,312 shares of the company's stock after acquiring an additional 50,200 shares during the period. Sit Investment Associates Inc. owned 0.48% of Putnam Managed Municipal Income Trust worth $1,333,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PMM. Wells Fargo & Company MN boosted its position in Putnam Managed Municipal Income Trust by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 712,659 shares of the company's stock worth $4,255,000 after purchasing an additional 43,540 shares during the period. Thomas J. Herzfeld Advisors Inc. boosted its holdings in shares of Putnam Managed Municipal Income Trust by 21.1% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 43,341 shares of the company's stock worth $259,000 after buying an additional 7,543 shares during the period. Virtu Financial LLC acquired a new position in Putnam Managed Municipal Income Trust in the 4th quarter valued at $66,000. Advisors Asset Management Inc. grew its stake in Putnam Managed Municipal Income Trust by 22.9% in the 4th quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company's stock valued at $4,761,000 after buying an additional 148,493 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in Putnam Managed Municipal Income Trust by 34.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 55,037 shares of the company's stock worth $329,000 after acquiring an additional 14,099 shares during the period. 13.54% of the stock is owned by institutional investors.

Putnam Managed Municipal Income Trust Stock Up 1.0 %

PMM stock traded up $0.06 during mid-day trading on Friday, reaching $5.83. 96,829 shares of the stock traded hands, compared to its average volume of 114,893. The business has a 50-day moving average of $6.17 and a two-hundred day moving average of $6.22. Putnam Managed Municipal Income Trust has a 52 week low of $5.66 and a 52 week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.0238 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.29 annualized dividend and a yield of 4.90%.

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.