Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Sells $14,407.80 in 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 transaction of $14,407.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Trading Down 0.7 %

NYSE:PMM opened at $6.05 on Monday. The company’s fifty day moving average price is $6.29 and its 200-day moving average price is $6.31. Putnam Managed Municipal Income Trust has a 1-year low of $5.82 and a 1-year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

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

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

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

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.