Truist Financial Corp Buys 9,000 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

Truist Financial Corp grew its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM – Get Rating) by 51.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,408 shares of the company’s stock after buying an additional 9,000 shares during the period. Truist Financial Corp owned 0.05% of Putnam Managed Municipal Income Trust worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC raised its position in shares of Putnam Managed Municipal Income Trust by 47.4% during the fourth quarter. TCTC Holdings LLC now owns 10,020 shares of the company’s stock valued at $88,000 after buying an additional 3,220 shares during the last quarter. Lloyd Park LLC bought a new stake in Putnam Managed Municipal Income Trust in the fourth quarter worth $270,000. National Asset Management Inc. increased its position in Putnam Managed Municipal Income Trust by 2.8% in the fourth quarter. National Asset Management Inc. now owns 149,986 shares of the company’s stock worth $1,316,000 after purchasing an additional 4,119 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Putnam Managed Municipal Income Trust by 149.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 108,721 shares of the company’s stock worth $953,000 after purchasing an additional 65,181 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Putnam Managed Municipal Income Trust in the first quarter worth $83,000. Institutional investors own 17.41% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM opened at $6.87 on Monday. The company’s fifty day moving average is $6.74 and its 200 day moving average is $6.95. Putnam Managed Municipal Income Trust has a fifty-two week low of $6.17 and a fifty-two week high of $8.90.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 22nd will be paid a dividend of $0.032 per share. This represents a yield of 5.45%. The ex-dividend date of this dividend is Thursday, July 21st.

Putnam Managed Municipal Income Trust Profile

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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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