Putnam Managed Municipal Income Trust (NYSE:PMM – Get Free Report) announced a monthly dividend on Friday, October 27th, NASDAQ reports. Investors 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 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Wednesday, November 22nd.
Putnam Managed Municipal Income Trust Price Performance
Shares of PMM stock opened at $5.79 on Monday. Putnam Managed Municipal Income Trust has a 1-year low of $5.00 and a 1-year high of $7.28. The firm has a fifty day moving average of $5.40 and a two-hundred day moving average of $5.73.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors acquired a new position in shares of Putnam Managed Municipal Income Trust in the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in Putnam Managed Municipal Income Trust during the 2nd quarter valued at about $49,000. Envestnet Asset Management Inc. acquired a new position in Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $55,000. Kestra Advisory Services LLC acquired a new position in Putnam Managed Municipal Income Trust during the 2nd quarter valued at about $61,000. Finally, Nomura Holdings Inc. acquired a new position in Putnam Managed Municipal Income Trust during the 1st quarter valued at about $61,000. 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.
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