Raymond James & Associates Boosts Stock Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

Raymond James & Associates boosted its holdings in Putnam Managed Municipal Income Trust (NYSE:PMM) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 420,283 shares of the company’s stock after buying an additional 29,456 shares during the quarter. Raymond James & Associates owned approximately 0.91% of Putnam Managed Municipal Income Trust worth $2,736,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PMM. Advisors Asset Management Inc. grew its holdings in shares of Putnam Managed Municipal Income Trust by 31.6% during the first quarter. Advisors Asset Management Inc. now owns 535,084 shares of the company’s stock worth $3,205,000 after buying an additional 128,455 shares during the last quarter. Robinson Capital Management LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 4.9% during the 1st quarter. Robinson Capital Management LLC now owns 424,437 shares of the company’s stock valued at $2,491,000 after acquiring an additional 20,000 shares during the period. Van ECK Associates Corp lifted its position in shares of Putnam Managed Municipal Income Trust by 14.7% during the 2nd quarter. Van ECK Associates Corp now owns 333,409 shares of the company’s stock valued at $2,067,000 after acquiring an additional 42,667 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the 2nd quarter valued at approximately $1,569,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 35.2% during the 2nd quarter. Wolverine Asset Management LLC now owns 66,373 shares of the company’s stock valued at $412,000 after acquiring an additional 17,275 shares during the period. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Trading Up 0.2 %

PMM stock opened at $6.28 on Tuesday. Putnam Managed Municipal Income Trust has a 12-month low of $5.36 and a 12-month high of $6.61. The firm has a 50 day moving average of $6.41 and a 200-day moving average of $6.23.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd will be paid a $0.0238 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.29 annualized dividend and a yield of 4.55%.

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.