Comerica Bank Invests $115,000 in Putnam Managed Municipal Income Trust (NYSE:PMM)

Comerica Bank purchased a new stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMMGet Rating) during the first quarter, Holdings Channel.com reports. The fund purchased 17,000 shares of the company’s stock, valued at approximately $115,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PMM. Raymond James & Associates increased its stake in Putnam Managed Municipal Income Trust by 6.2% in the 4th quarter. Raymond James & Associates now owns 674,112 shares of the company’s stock valued at $5,912,000 after buying an additional 39,290 shares during the last quarter. Bank of America Corp DE increased its stake in Putnam Managed Municipal Income Trust by 5.1% in the 4th quarter. Bank of America Corp DE now owns 229,561 shares of the company’s stock valued at $2,013,000 after buying an additional 11,078 shares during the last quarter. Joseph P. Lucia & Associates LLC increased its stake in Putnam Managed Municipal Income Trust by 22.7% in the 4th quarter. Joseph P. Lucia & Associates LLC now owns 225,331 shares of the company’s stock valued at $1,976,000 after buying an additional 41,690 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Putnam Managed Municipal Income Trust by 4.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 191,425 shares of the company’s stock valued at $1,679,000 after buying an additional 7,957 shares during the last quarter. Finally, National Asset Management Inc. increased its stake in shares of Putnam Managed Municipal Income Trust by 2.8% during the 4th quarter. National Asset Management Inc. now owns 149,986 shares of the company’s stock worth $1,316,000 after purchasing an additional 4,119 shares during the last quarter. 17.41% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM stock opened at $6.87 on Monday. The company has a 50 day moving average of $6.74 and a 200-day moving average of $6.95. Putnam Managed Municipal Income Trust has a 12-month low of $6.17 and a 12-month high of $8.90.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 22nd will be issued a $0.032 dividend. This represents a yield of 5.45%. The ex-dividend date of this dividend is Thursday, July 21st.

About Putnam Managed Municipal Income Trust

(Get Rating)

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.

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Institutional Ownership by Quarter for Putnam Managed Municipal Income Trust (NYSE:PMM)

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