LPL Financial LLC Decreases Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

LPL Financial LLC lowered its stake in Putnam Managed Municipal Income Trust (NYSE:PMM) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,320 shares of the company’s stock after selling 26,596 shares during the period. LPL Financial LLC owned approximately 0.19% of Putnam Managed Municipal Income Trust worth $521,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in shares of Putnam Managed Municipal Income Trust by 235.9% in the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after purchasing an additional 2,909 shares during the last quarter. Virtu Financial LLC purchased a new stake in Putnam Managed Municipal Income Trust during the 4th quarter valued at $66,000. Sanctuary Advisors LLC bought a new stake in Putnam Managed Municipal Income Trust in the third quarter worth $70,000. Noble Wealth Management PBC purchased a new position in Putnam Managed Municipal Income Trust during the fourth quarter worth $104,000. Finally, Avantax Advisory Services Inc. increased its position in Putnam Managed Municipal Income Trust by 34.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 55,037 shares of the company’s stock valued at $329,000 after acquiring an additional 14,099 shares during the last quarter. 13.54% of the stock is owned by institutional investors.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM opened at $5.91 on Friday. The company’s fifty day simple moving average is $6.11 and its 200-day simple moving average is $6.19. Putnam Managed Municipal Income Trust has a twelve month low of $5.66 and a twelve month high of $6.61.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 18th will be given a $0.0238 dividend. This represents a yield of 4.88%. The ex-dividend date of this dividend is Thursday, April 17th.

Putnam Managed Municipal Income Trust Company 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.