Stonebrook Private Inc. Takes $132,000 Position in Putnam Managed Municipal Income Trust (NYSE:PMM)

Stonebrook Private Inc. bought a new position in Putnam Managed Municipal Income Trust (NYSE:PMM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 21,661 shares of the company’s stock, valued at approximately $132,000.

A number of other institutional investors have also bought and sold shares of PMM. Goodwin Daniel L boosted its position in shares of Putnam Managed Municipal Income Trust by 5.6% during the third quarter. Goodwin Daniel L now owns 132,912 shares of the company’s stock worth $727,000 after acquiring an additional 7,000 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $62,000. Moors & Cabot Inc. grew its position in shares of Putnam Managed Municipal Income Trust by 41.2% during the third quarter. Moors & Cabot Inc. now owns 60,000 shares of the company’s stock valued at $328,000 after purchasing an additional 17,500 shares in the last quarter. Landscape Capital Management L.L.C. increased its holdings in shares of Putnam Managed Municipal Income Trust by 6.7% in the third quarter. Landscape Capital Management L.L.C. now owns 40,376 shares of the company’s stock worth $221,000 after purchasing an additional 2,519 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Putnam Managed Municipal Income Trust by 17.4% in the third quarter. Van ECK Associates Corp now owns 296,478 shares of the company’s stock worth $1,622,000 after buying an additional 43,961 shares in the last quarter. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Price Performance

NYSE PMM opened at $5.89 on Tuesday. The business’s 50 day moving average price is $6.03 and its 200-day moving average price is $5.92. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.00 and a fifty-two week high of $6.42.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 24th will be issued a $0.0238 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.29 annualized dividend and a dividend yield of 4.85%.

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.