Raymond James Financial Inc. Makes New $2.72 Million Investment in Putnam Managed Municipal Income Trust (NYSE:PMM)

Raymond James Financial Inc. purchased a new stake in Putnam Managed Municipal Income Trust (NYSE:PMM) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 455,685 shares of the company’s stock, valued at approximately $2,720,000. Raymond James Financial Inc. owned about 0.98% of Putnam Managed Municipal Income Trust at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PMM. Avior Wealth Management LLC raised its holdings in shares of Putnam Managed Municipal Income Trust by 235.9% during the fourth quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock worth $25,000 after purchasing an additional 2,909 shares during the period. Wedbush Securities Inc. grew its position in shares of Putnam Managed Municipal Income Trust by 37.2% during the 4th quarter. Wedbush Securities Inc. now owns 14,007 shares of the company’s stock valued at $84,000 after buying an additional 3,800 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. raised its stake in Putnam Managed Municipal Income Trust by 21.1% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 43,341 shares of the company’s stock worth $259,000 after acquiring an additional 7,543 shares during the period. Virtu Financial LLC bought a new position in Putnam Managed Municipal Income Trust in the fourth quarter worth about $66,000. Finally, Sanctuary Advisors LLC acquired a new position in Putnam Managed Municipal Income Trust in the third quarter valued at approximately $70,000. 13.54% of the stock is owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Trading Down 0.8 %

Shares of Putnam Managed Municipal Income Trust stock opened at $5.94 on Tuesday. Putnam Managed Municipal Income Trust has a twelve month low of $5.66 and a twelve month high of $6.61. The business’s 50 day simple moving average is $6.09 and its 200-day simple moving average is $6.17.

Putnam Managed Municipal Income Trust Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 18th will be paid a $0.0238 dividend. This represents a yield of 4.88%. The ex-dividend date is Thursday, April 17th.

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.