Oppenheimer & Co. Inc. Buys Shares of 58,707 Putnam Managed Municipal Income Trust (NYSE:PMM)

Oppenheimer & Co. Inc. bought a new stake in Putnam Managed Municipal Income Trust (NYSE:PMM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 58,707 shares of the company’s stock, valued at approximately $350,000. Oppenheimer & Co. Inc. owned 0.13% of Putnam Managed Municipal Income Trust as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at $25,000. Avior Wealth Management LLC raised its stake in shares of Putnam Managed Municipal Income Trust by 235.9% in the fourth quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after acquiring an additional 2,909 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at $70,000. Concurrent Investment Advisors LLC raised its stake in shares of Putnam Managed Municipal Income Trust by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after acquiring an additional 1,728 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its stake in shares of Putnam Managed Municipal Income Trust by 92.3% in the third quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after acquiring an additional 61,240 shares in the last quarter. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Insiders Place Their Bets

In related 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 purchased at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the acquisition, the insider now directly owns 16,585 shares in the company, valued at $99,841.70. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust Trading Down 0.6 %

Shares of NYSE PMM opened at $6.20 on Friday. Putnam Managed Municipal Income Trust has a 12-month low of $5.82 and a 12-month high of $6.61. The business’s fifty day simple moving average is $6.18 and its 200-day simple moving average is $6.29.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 24th were issued a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend was Monday, February 24th.

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.