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

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

Putnam Managed Municipal Income Trust Trading Down 0.7 %

NYSE:PMM opened at $6.05 on Friday. Putnam Managed Municipal Income Trust has a 1 year low of $5.82 and a 1 year high of $6.61. The stock has a fifty day moving average price of $6.29 and a two-hundred day moving average price of $6.30.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 23rd will be issued a $0.0238 dividend. The ex-dividend date is Monday, December 23rd. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.72%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the 2nd quarter valued at approximately $1,569,000. Wolverine Asset Management LLC grew its position in shares of Putnam Managed Municipal Income Trust by 92.3% in the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after purchasing an additional 61,240 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Putnam Managed Municipal Income Trust by 554.5% during 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 in the last quarter. Van ECK Associates Corp raised its position in shares of Putnam Managed Municipal Income Trust by 14.7% during the 2nd quarter. Van ECK Associates Corp now owns 333,409 shares of the company’s stock worth $2,067,000 after purchasing an additional 42,667 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in Putnam Managed Municipal Income Trust by 7.5% in the 3rd quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock valued at $2,736,000 after buying an additional 29,456 shares in the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

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.