Putnam Managed Municipal Income Trust (NYSE:PMM) Holdings Raised by AE Wealth Management LLC

AE Wealth Management LLC raised its position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM – Get Rating) by 23.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 16,590 shares of the company’s stock after buying an additional 3,160 shares during the period. AE Wealth Management LLC’s holdings in Putnam Managed Municipal Income Trust were worth $94,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PMM. Raymond James Financial Services Advisors Inc. lifted its position in shares of Putnam Managed Municipal Income Trust by 28.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 551,537 shares of the company’s stock valued at $3,111,000 after acquiring an additional 120,898 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Putnam Managed Municipal Income Trust by 58.7% in the second quarter. Wells Fargo & Company MN now owns 400,189 shares of the company’s stock valued at $2,650,000 after purchasing an additional 148,041 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 purchasing an additional 84,327 shares in the last quarter. Keudell Morrison Wealth Management boosted its position in shares of Putnam Managed Municipal Income Trust by 58.5% in the third quarter. Keudell Morrison Wealth Management now owns 243,325 shares of the company’s stock worth $1,372,000 after buying an additional 89,800 shares during the period. Finally, Rivernorth Capital Management LLC acquired a new position in Putnam Managed Municipal Income Trust during the first quarter valued at $1,287,000. 10.78% of the stock is currently owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Price Performance

Shares of Putnam Managed Municipal Income Trust stock opened at $6.85 on Friday. Putnam Managed Municipal Income Trust has a 1 year low of $5.58 and a 1 year high of $7.85. The stock has a 50-day moving average price of $6.38 and a 200 day moving average price of $6.39.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 24th will be paid a dividend of $0.032 per share. This represents a dividend yield of 5.66%. The ex-dividend date of this dividend is Monday, January 23rd.

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.