Noble Wealth Management PBC Purchases Shares of 17,350 Putnam Managed Municipal Income Trust (NYSE:PMM)

Noble Wealth Management PBC acquired a new position in Putnam Managed Municipal Income Trust (NYSE:PMM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,350 shares of the company’s stock, valued at approximately $104,000.

Several other institutional investors have also recently modified their holdings of PMM. Concurrent Investment Advisors LLC grew its holdings in shares of Putnam Managed Municipal Income Trust by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after purchasing an additional 1,728 shares during the last quarter. Avior Wealth Management LLC boosted its position in Putnam Managed Municipal Income Trust by 235.9% during the fourth quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after buying an additional 2,909 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the third quarter valued at about $25,000. Clear Creek Financial Management LLC increased its holdings in shares of Putnam Managed Municipal Income Trust by 21.2% in the third 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. Finally, Sanctuary Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust in the third quarter worth about $70,000. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM stock opened at $6.29 on Friday. The business has a 50-day moving average of $6.16 and a 200 day moving average of $6.29. 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 disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 24th will be paid a dividend of $0.0238 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, February 24th.

Insider Transactions at Putnam Managed Municipal Income Trust

In other news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was bought at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.01% 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.