Putnam Managed Municipal Income Trust (NYSE:PMM) Holdings Raised by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its stake in Putnam Managed Municipal Income Trust (NYSE:PMM) by 4.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 59,747 shares of the company’s stock after acquiring an additional 2,658 shares during the period. Commonwealth Equity Services LLC’s holdings in Putnam Managed Municipal Income Trust were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PMM. Rothschild Investment LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the second quarter valued at approximately $1,569,000. International Assets Investment Management LLC purchased a new position in Putnam Managed Municipal Income Trust in the second quarter valued at about $58,000. Clear Creek Financial Management LLC increased its holdings in Putnam Managed Municipal Income Trust by 97.6% in the second quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock worth $176,000 after buying an additional 14,000 shares during the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of Putnam Managed Municipal Income Trust in the 2nd quarter valued at $172,000. Finally, Virtu Financial LLC acquired a new position in shares of Putnam Managed Municipal Income Trust during the 1st quarter valued at about $91,000. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Performance

PMM stock opened at $6.54 on Monday. The company has a 50-day moving average of $6.35 and a two-hundred day moving average of $6.15. Putnam Managed Municipal Income Trust has a 52-week low of $5.00 and a 52-week high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th will be given a dividend of $0.0238 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $0.29 annualized dividend and a dividend yield of 4.37%.

Putnam Managed Municipal Income Trust Profile

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.