Putnam Managed Municipal Income Trust (PMM) To Go Ex-Dividend on November 22nd

Putnam Managed Municipal Income Trust (NYSE:PMM) declared a monthly dividend on Friday, October 27th, NASDAQ reports. Stockholders of record on Friday, November 24th will be given a dividend of 0.0238 per share on Friday, December 1st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Wednesday, November 22nd.

Putnam Managed Municipal Income Trust Trading Down 0.7 %

Putnam Managed Municipal Income Trust stock traded down $0.04 during mid-day trading on Monday, hitting $5.75. 20,345 shares of the company’s stock were exchanged, compared to its average volume of 118,798. Putnam Managed Municipal Income Trust has a 1-year low of $5.00 and a 1-year high of $7.28. The stock has a 50 day moving average of $5.40 and a two-hundred day moving average of $5.73.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

Several hedge funds have recently bought and sold shares of the business. Morgan Stanley increased its position in Putnam Managed Municipal Income Trust by 22.0% during the fourth quarter. Morgan Stanley now owns 667,650 shares of the company’s stock worth $4,193,000 after buying an additional 120,183 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Putnam Managed Municipal Income Trust by 58.7% during the second quarter. Wells Fargo & Company MN now owns 400,189 shares of the company’s stock valued at $2,650,000 after acquiring an additional 148,041 shares during the period. Bank of America Corp DE lifted its stake in shares of Putnam Managed Municipal Income Trust by 36.7% in the first quarter. Bank of America Corp DE now owns 313,888 shares of the company’s stock valued at $2,219,000 after buying an additional 84,327 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Putnam Managed Municipal Income Trust by 65.1% in the first quarter. Advisors Asset Management Inc. now owns 269,604 shares of the company’s stock valued at $1,653,000 after buying an additional 106,273 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Putnam Managed Municipal Income Trust by 1.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 195,046 shares of the company’s stock valued at $1,379,000 after buying an additional 3,621 shares during the period. 12.12% of the stock is owned by institutional investors and hedge funds.

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.