Van ECK Associates Corp Purchases 11,828 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

Van ECK Associates Corp raised its position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 341,484 shares of the company’s stock after purchasing an additional 11,828 shares during the quarter. Van ECK Associates Corp owned 0.74% of Putnam Managed Municipal Income Trust worth $2,039,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $25,000. Avior Wealth Management LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 235.9% during the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after buying an additional 2,909 shares in the last quarter. Ackerman Capital Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $70,000. Sanctuary Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $70,000. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Putnam Managed Municipal Income Trust by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after buying an additional 1,728 shares in the last quarter. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Municipal Income Trust Stock Down 0.1 %

PMM stock opened at $6.35 on Friday. Putnam Managed Municipal Income Trust has a twelve month low of $5.82 and a twelve month high of $6.61. The business’s 50-day moving average price is $6.15 and its 200-day moving average price is $6.29.

Putnam Managed Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 24th will be given a dividend of $0.0238 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.50%.

Insider Activity

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average cost of $6.02 per share, with a total value of $99,841.70. Following the acquisition, the insider now owns 16,585 shares in the company, valued at approximately $99,841.70. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust Company Profile

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.