Wolverine Asset Management LLC Reduces Stake in Putnam Managed Municipal Income Trust (NYSE:PMM)

Wolverine Asset Management LLC lessened its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 21.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,993 shares of the company’s stock after selling 27,620 shares during the quarter. Wolverine Asset Management LLC owned about 0.22% of Putnam Managed Municipal Income Trust worth $597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in Putnam Managed Municipal Income Trust during the 3rd quarter worth approximately $25,000. Avior Wealth Management LLC grew its position in shares of Putnam Managed Municipal Income Trust by 235.9% during the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after purchasing an additional 2,909 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Putnam Managed Municipal Income Trust in the third quarter worth $70,000. Ackerman Capital Advisors LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter worth $70,000. Finally, Concurrent Investment Advisors LLC boosted its stake in Putnam Managed Municipal Income Trust by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after buying an additional 1,728 shares during the period. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Municipal Income Trust Stock Performance

Putnam Managed Municipal Income Trust stock opened at $6.33 on Monday. The business has a 50-day simple moving average of $6.15 and a 200 day simple moving average of $6.29. Putnam Managed Municipal Income Trust has a 52 week low of $5.82 and a 52 week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 24th will be given a $0.0238 dividend. This represents a $0.29 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Monday, February 24th.

Insider Buying and Selling

In related news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.01% of the stock is owned by company insiders.

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.