Capital Investment Advisors LLC Trims Position in Putnam Managed Municipal Income Trust (NYSE:PMM)

Capital Investment Advisors LLC decreased its position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 6.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 75,746 shares of the company’s stock after selling 5,100 shares during the period. Capital Investment Advisors LLC’s holdings in Putnam Managed Municipal Income Trust were worth $452,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PMM. Wolverine Asset Management LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 92.3% during the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after buying an additional 61,240 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 554.5% during the third quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock valued at $400,000 after buying an additional 52,058 shares during the period. Raymond James & Associates lifted its stake in shares of Putnam Managed Municipal Income Trust by 7.5% during the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock valued at $2,736,000 after buying an additional 29,456 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the third quarter valued at approximately $70,000. Finally, Ackerman Capital Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the third quarter valued at approximately $70,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the business’s stock in a transaction on Friday, January 10th. The shares were bought at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the purchase, the insider now directly owns 16,585 shares in the company, valued at approximately $99,841.70. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.01% of the stock is currently owned by insiders.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM opened at $6.08 on Thursday. The company’s 50 day simple moving average is $6.18 and its 200 day simple moving average is $6.29. Putnam Managed Municipal Income Trust has a 1 year low of $5.82 and a 1 year high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 24th will be paid a dividend of $0.0238 per share. This represents a $0.29 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Friday, January 24th.

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.