Advisors Asset Management Inc. Trims Stock Position in Putnam Managed $PMM

Advisors Asset Management Inc. trimmed its stake in Putnam Managed (NYSE:PMM) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 667,217 shares of the company’s stock after selling 195,395 shares during the period. Advisors Asset Management Inc. owned 1.44% of Putnam Managed worth $4,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Guggenheim Capital LLC raised its position in shares of Putnam Managed by 10.2% in the 2nd quarter. Guggenheim Capital LLC now owns 997,567 shares of the company’s stock worth $5,965,000 after acquiring an additional 91,933 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Putnam Managed by 11.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 564,976 shares of the company’s stock worth $3,412,000 after purchasing an additional 58,216 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Putnam Managed by 11.8% in the second quarter. Raymond James Financial Inc. now owns 526,601 shares of the company’s stock worth $3,149,000 after purchasing an additional 55,674 shares in the last quarter. Invesco Ltd. lifted its position in Putnam Managed by 55.0% during the second quarter. Invesco Ltd. now owns 261,413 shares of the company’s stock valued at $1,563,000 after buying an additional 92,727 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Putnam Managed by 48.1% during the 2nd quarter. Bank of America Corp DE now owns 125,252 shares of the company’s stock valued at $749,000 after buying an additional 40,699 shares in the last quarter. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Stock Down 0.2%

NYSE:PMM opened at $6.34 on Friday. The firm’s 50-day moving average price is $6.23 and its 200-day moving average price is $6.10. Putnam Managed has a 1-year low of $5.66 and a 1-year high of $6.44.

Putnam Managed Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be issued a $0.0265 dividend. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Friday, February 20th.

Putnam Managed Company Profile

Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.

Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.