International Assets Investment Management LLC Makes New $58,000 Investment in Putnam Managed Municipal Income Trust (NYSE:PMM)

International Assets Investment Management LLC acquired a new stake in Putnam Managed Municipal Income Trust (NYSE:PMM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,388 shares of the company’s stock, valued at approximately $58,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Clear Creek Financial Management LLC boosted its stake in Putnam Managed Municipal Income Trust by 97.6% in the 2nd quarter. Clear Creek Financial Management LLC now owns 28,350 shares of the company’s stock worth $176,000 after buying an additional 14,000 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in Putnam Managed Municipal Income Trust in the second quarter valued at approximately $172,000. Virtu Financial LLC acquired a new position in Putnam Managed Municipal Income Trust during the first quarter worth approximately $91,000. B. Riley Wealth Advisors Inc. raised its stake in Putnam Managed Municipal Income Trust by 4.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 45,312 shares of the company’s stock worth $249,000 after purchasing an additional 1,885 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Putnam Managed Municipal Income Trust by 31.6% in the 1st quarter. Advisors Asset Management Inc. now owns 535,084 shares of the company’s stock valued at $3,205,000 after purchasing an additional 128,455 shares during the last quarter. 13.54% of the stock is currently owned by institutional investors and hedge funds.

Putnam Managed Municipal Income Trust Price Performance

Shares of NYSE PMM opened at $6.34 on Thursday. The firm has a fifty day moving average of $6.28 and a 200-day moving average of $6.12. Putnam Managed Municipal Income Trust has a 52-week low of $5.00 and a 52-week high of $6.50.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th will be paid a dividend of $0.0238 per share. The ex-dividend date is Tuesday, September 24th. This represents a $0.29 annualized dividend and a yield of 4.51%.

Putnam Managed Municipal Income Trust 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.