Virtu Financial LLC Makes New Investment in Putnam Managed Municipal Income Trust (NYSE:PMM)

Virtu Financial LLC purchased a new position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,108 shares of the company’s stock, valued at approximately $66,000.

Several other hedge funds have also recently modified their holdings of the stock. Avior Wealth Management LLC raised its stake in Putnam Managed Municipal Income Trust by 235.9% in the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock worth $25,000 after acquiring an additional 2,909 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Putnam Managed Municipal Income Trust in the third quarter worth about $70,000. Noble Wealth Management PBC acquired a new stake in shares of Putnam Managed Municipal Income Trust during the fourth quarter worth about $104,000. Avantax Advisory Services Inc. boosted its position in Putnam Managed Municipal Income Trust by 34.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 55,037 shares of the company’s stock valued at $329,000 after buying an additional 14,099 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in Putnam Managed Municipal Income Trust in the fourth quarter valued at approximately $350,000. Institutional investors and hedge funds own 13.54% of the company’s stock.

Insider Buying and Selling at Putnam Managed Municipal Income Trust

In related news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the completion of the transaction, the insider now owns 16,585 shares in the company, valued at $99,841.70. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.01% of the stock is owned by corporate insiders.

Putnam Managed Municipal Income Trust Price Performance

PMM opened at $6.15 on Tuesday. Putnam Managed Municipal Income Trust has a 12-month low of $5.83 and a 12-month high of $6.61. The firm has a 50 day moving average of $6.23 and a two-hundred day moving average of $6.26.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.0238 per share. The ex-dividend date was Monday, March 17th. This represents a $0.29 dividend on an annualized basis and a yield of 4.65%.

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.