LPL Financial LLC Sells 8,563 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

LPL Financial LLC trimmed its position in Putnam Managed Municipal Income Trust (NYSE:PMM) by 5.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 162,585 shares of the company’s stock after selling 8,563 shares during the period. LPL Financial LLC owned about 0.33% of Putnam Managed Municipal Income Trust worth $990,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in Putnam Managed Municipal Income Trust in the second quarter valued at about $26,000. Nomura Holdings Inc. purchased a new position in Putnam Managed Municipal Income Trust in the first quarter valued at about $61,000. Motco purchased a new position in Putnam Managed Municipal Income Trust in the first quarter valued at about $61,000. HighTower Advisors LLC purchased a new position in Putnam Managed Municipal Income Trust in the fourth quarter valued at about $64,000. Finally, Jane Street Group LLC purchased a new position in Putnam Managed Municipal Income Trust in the fourth quarter valued at about $68,000. 12.12% of the stock is owned by institutional investors.

Putnam Managed Municipal Income Trust Trading Down 1.5 %

PMM opened at $5.79 on Friday. Putnam Managed Municipal Income Trust has a twelve month low of $5.00 and a twelve month high of $7.28. The company’s 50-day moving average price is $5.40 and its two-hundred day moving average price is $5.73.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 24th will be paid a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Wednesday, November 22nd.

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.