Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Sells $11,335.68 in Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank sold 1,536 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $7.38, for a total transaction of $11,335.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 Stock Performance

PMM stock opened at $6.05 on Monday. The company has a 50 day moving average price of $6.29 and a 200 day moving average price of $6.31. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.82 and a fifty-two week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently announced 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. 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 Trading of Putnam Managed Municipal Income Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in Putnam Managed Municipal Income Trust by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after acquiring an additional 1,728 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 4.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 59,747 shares of the company’s stock valued at $370,000 after purchasing an additional 2,658 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Putnam Managed Municipal Income Trust in the 3rd quarter valued at $25,000. WealthBridge Capital Management LLC increased its position in shares of Putnam Managed Municipal Income Trust by 10.5% in the 3rd quarter. WealthBridge Capital Management LLC now owns 52,250 shares of the company’s stock valued at $340,000 after buying an additional 4,950 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its stake in Putnam Managed Municipal Income Trust by 21.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after buying an additional 6,000 shares during the period. 13.54% of the stock is owned by institutional investors.

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.