Putnam Managed Municipal Income Trust (NYSE:PMM) Declares $0.03 Dividend

Putnam Managed Municipal Income Trust (NYSE:PMM – Get Rating) declared a dividend on Friday, June 17th, investing.com reports. Investors of record on Friday, June 24th will be given a dividend of 0.032 per share on Friday, July 1st. This represents a yield of 6.08%. The ex-dividend date of this dividend is Thursday, June 23rd.

NYSE PMM opened at $6.32 on Friday. Putnam Managed Municipal Income Trust has a 52-week low of $6.25 and a 52-week high of $8.92. The firm has a 50-day moving average price of $6.62 and a 200 day moving average price of $7.38.

A number of hedge funds and other institutional investors have recently bought and sold shares of PMM. Invesco Ltd. raised its holdings in Putnam Managed Municipal Income Trust by 5.6% during the third quarter. Invesco Ltd. now owns 96,299 shares of the company’s stock worth $803,000 after purchasing an additional 5,081 shares in the last quarter. Morgan Stanley raised its holdings in Putnam Managed Municipal Income Trust by 0.9% during the third quarter. Morgan Stanley now owns 607,119 shares of the company’s stock worth $5,063,000 after purchasing an additional 5,555 shares in the last quarter. LPL Financial LLC raised its holdings in Putnam Managed Municipal Income Trust by 1.4% during the third quarter. LPL Financial LLC now owns 131,336 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,865 shares in the last quarter. UBS Group AG raised its holdings in Putnam Managed Municipal Income Trust by 17.2% during the third quarter. UBS Group AG now owns 86,749 shares of the company’s stock worth $723,000 after purchasing an additional 12,730 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Putnam Managed Municipal Income Trust by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 75,313 shares of the company’s stock worth $661,000 after purchasing an additional 2,127 shares in the last quarter. 17.41% of the stock is owned by hedge funds and other institutional investors.

Putnam Managed Municipal Income Trust Company Profile (Get Rating)

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.

Featured Articles

• Get a free copy of the StockNews.com research report on Putnam Managed Municipal Income Trust (PMM)
• Vuzix Stock Stays Optimistic
• Palo Alto Networks: Pioneering AI in Cybersecurity
• The Analysts Upgrade… Retail Stocks? 
• Dividend Stocks and Your Roth IRA
• The Q2 Earnings Season Could Be A Bloodbath 

Want More Great Investing Ideas?