Putnam Managed Municipal Income Trust (NYSE:PMM) Position Trimmed by Everstar Asset Management LLC

Everstar Asset Management LLC trimmed its holdings in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 40.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,514 shares of the company’s stock after selling 31,186 shares during the period. Everstar Asset Management LLC owned 0.10% of Putnam Managed Municipal Income Trust worth $272,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in shares of Putnam Managed Municipal Income Trust during the third quarter valued at $70,000. Van ECK Associates Corp lifted its position in 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 purchasing an additional 11,828 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Putnam Managed Municipal Income Trust during the 4th quarter valued at about $350,000. Raymond James Financial Inc. bought a new position in Putnam Managed Municipal Income Trust in the 4th quarter worth about $2,720,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Putnam Managed Municipal Income Trust by 22.9% in the fourth quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company’s stock valued at $4,761,000 after purchasing an additional 148,493 shares during the period. 13.54% of the stock is currently owned by institutional investors.

Insider Transactions at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank purchased 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, with a total value of $99,841.70. Following the purchase, the insider now owns 16,585 shares in the company, valued at approximately $99,841.70. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust Trading Down 0.2 %

Shares of NYSE PMM opened at $6.15 on Tuesday. Putnam Managed Municipal Income Trust has a 12-month low of $5.83 and a 12-month high of $6.61. The stock has a 50 day simple moving average of $6.23 and a 200-day simple moving average of $6.26.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.0238 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.29 dividend on an annualized basis and a yield of 4.65%.

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.