Kennedy Investment Group lowered its position in Putnam Managed Municipal Income Trust (NYSE:PMM – Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 255,048 shares of the company’s stock after selling 4,473 shares during the period. Kennedy Investment Group owned 0.55% of Putnam Managed Municipal Income Trust worth $1,660,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Putnam Managed Municipal Income Trust in the 2nd quarter worth $58,000. Nomura Holdings Inc. bought a new stake in shares of Putnam Managed Municipal Income Trust during the fourth quarter worth about $63,000. Arbor Trust Wealth Advisors LLC bought a new stake in shares of Putnam Managed Municipal Income Trust during the second quarter worth about $81,000. Virtu Financial LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the 1st quarter worth about $91,000. Finally, Wesbanco Bank Inc. bought a new position in Putnam Managed Municipal Income Trust in the 2nd quarter valued at about $172,000. Institutional investors and hedge funds own 13.54% of the company’s stock.
Putnam Managed Municipal Income Trust Price Performance
PMM stock traded down $0.03 during mid-day trading on Monday, reaching $6.47. 17,064 shares of the company traded hands, compared to its average volume of 101,886. The firm’s 50 day moving average price is $6.44 and its 200 day moving average price is $6.21. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.00 and a fifty-two week high of $6.61.
Putnam Managed Municipal Income Trust Dividend Announcement
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.
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