Sit Investment Associates Inc. Has $1.39 Million Holdings in Putnam Managed $PMM

Sit Investment Associates Inc. decreased its stake in Putnam Managed (NYSE:PMM) by 56.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 221,351 shares of the company’s stock after selling 281,598 shares during the quarter. Sit Investment Associates Inc.’s holdings in Putnam Managed were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PMM. International Assets Investment Management LLC acquired a new position in shares of Putnam Managed during the 4th quarter worth about $36,000. Nomura Holdings Inc. bought a new stake in shares of Putnam Managed in the 2nd quarter valued at about $60,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Putnam Managed in the 4th quarter valued at approximately $63,000. Virtu Financial LLC acquired a new stake in shares of Putnam Managed in the 3rd quarter valued at approximately $69,000. Finally, UMB Bank n.a. acquired a new stake in shares of Putnam Managed in the 4th quarter valued at approximately $70,000. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Price Performance

Putnam Managed stock opened at $6.36 on Friday. The company’s 50 day simple moving average is $6.24 and its 200 day simple moving average is $6.24. Putnam Managed has a fifty-two week low of $5.77 and a fifty-two week high of $6.52.

Putnam Managed Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.033 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 6.2%.

Putnam Managed Company Profile

Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.

Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.