Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Of America Corp /De/ Bank Sells 2,035 Shares

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 2,035 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $7.08, for a total value of $14,407.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Putnam Managed Municipal Income Trust Price Performance

NYSE:PMM opened at $6.05 on Monday. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.82 and a fifty-two week high of $6.61. The company has a 50 day simple moving average of $6.29 and a two-hundred day simple moving average of $6.31.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 23rd will be given a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Monday, December 23rd.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Putnam Managed Municipal Income Trust during the third quarter valued at $25,000. International Assets Investment Management LLC acquired a new position in shares of Putnam Managed Municipal Income Trust in the 2nd quarter valued at about $58,000. Ackerman Capital Advisors LLC bought a new stake in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $70,000. Sanctuary Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust during the third quarter worth approximately $70,000. Finally, Arbor Trust Wealth Advisors LLC bought a new stake in Putnam Managed Municipal Income Trust in the second quarter worth approximately $81,000. Institutional investors own 13.54% of the company’s stock.

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.