Insider Buying: Putnam Managed Municipal Income Trust (NYSE:PMM) Major Shareholder Buys 2,000 Shares of Stock

Putnam Managed Municipal Income Trust (NYSE:PMM) major shareholder Of America Corp /De/ Bank purchased 2,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $7.80 per share, for a total transaction of $15,600.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Putnam Managed Municipal Income Trust Price Performance

NYSE PMM opened at $6.05 on Monday. The business has a 50 day simple moving average of $6.29 and a 200 day simple moving average of $6.31. Putnam Managed Municipal Income Trust has a 52-week low of $5.82 and a 52-week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.72%.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the 3rd quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the second quarter worth about $58,000. Ackerman Capital Advisors LLC acquired a new stake in Putnam Managed Municipal Income Trust in the 3rd quarter valued at approximately $70,000. Sanctuary Advisors LLC bought a new stake in Putnam Managed Municipal Income Trust in the 3rd quarter valued at approximately $70,000. Finally, Arbor Trust Wealth Advisors LLC acquired a new position in Putnam Managed Municipal Income Trust during the 2nd quarter worth approximately $81,000. 13.54% of the stock is owned by institutional investors and hedge funds.

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.