Van ECK Associates Corp Raises Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

Van ECK Associates Corp boosted its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 13.1% in the 4th quarter, Holdings Channel reports. The fund owned 335,394 shares of the company’s stock after buying an additional 38,916 shares during the period. Van ECK Associates Corp’s holdings in Putnam Managed Municipal Income Trust were worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Stonebrook Private Inc. acquired a new stake in shares of Putnam Managed Municipal Income Trust during the 4th quarter worth approximately $132,000. Gilliland Jeter Wealth Management LLC purchased a new stake in Putnam Managed Municipal Income Trust during the fourth quarter worth $71,000. HTLF Bank acquired a new stake in Putnam Managed Municipal Income Trust during the fourth quarter valued at $68,000. Tyche Wealth Partners LLC acquired a new stake in Putnam Managed Municipal Income Trust during the fourth quarter valued at $242,000. Finally, International Assets Investment Management LLC increased its holdings in Putnam Managed Municipal Income Trust by 511.7% in the fourth quarter. International Assets Investment Management LLC now owns 56,454 shares of the company’s stock valued at $343,000 after buying an additional 47,225 shares in the last quarter. 13.54% of the stock is owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Price Performance

PMM stock opened at $6.01 on Thursday. Putnam Managed Municipal Income Trust has a 52-week low of $5.00 and a 52-week high of $6.42. The company’s 50-day simple moving average is $6.00 and its 200-day simple moving average is $5.95.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 24th will be issued a $0.0238 dividend. This represents a $0.29 annualized dividend and a yield of 4.76%. The ex-dividend date is Thursday, May 23rd.

About Putnam Managed Municipal Income Trust

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.