Activest Wealth Management Cuts Stake in Putnam Managed Municipal Income Trust (NYSE:PMM)

Activest Wealth Management cut its holdings in Putnam Managed Municipal Income Trust (NYSE:PMM) by 54.8% in the fourth quarter, Holdings Channel reports. The fund owned 6,600 shares of the company’s stock after selling 8,000 shares during the quarter. Activest Wealth Management’s holdings in Putnam Managed Municipal Income Trust were worth $39,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC raised its holdings in shares of Putnam Managed Municipal Income Trust by 92.3% in the 3rd 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 in the last quarter. International Assets Investment Management LLC increased its holdings in Putnam Managed Municipal Income Trust by 554.5% during the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock valued at $400,000 after buying an additional 52,058 shares during the period. Raymond James & Associates raised its stake in Putnam Managed Municipal Income Trust by 7.5% in the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock worth $2,736,000 after buying an additional 29,456 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Putnam Managed Municipal Income Trust during the third quarter worth $70,000. Finally, Ackerman Capital Advisors LLC bought a new stake in Putnam Managed Municipal Income Trust during the 3rd quarter valued at $70,000. 13.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Putnam Managed Municipal Income Trust

In other Putnam Managed Municipal Income Trust 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 shares were acquired at an average cost of $6.02 per share, with a total value of $99,841.70. Following the completion of the transaction, the insider now owns 16,585 shares in the company, valued at approximately $99,841.70. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust Price Performance

PMM opened at $6.22 on Monday. Putnam Managed Municipal Income Trust has a 12 month low of $5.82 and a 12 month high of $6.61. The stock has a fifty day moving average price of $6.16 and a 200-day moving average price of $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were issued a $0.0238 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $0.29 dividend on an annualized basis and a yield of 4.59%.

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.