258,949 Shares in Putnam Managed Municipal Income Trust (NYSE:PMM) Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. acquired a new position in Putnam Managed Municipal Income Trust (NYSE:PMM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 258,949 shares of the company's stock, valued at approximately $1,587,000. Hennion & Walsh Asset Management Inc. owned 0.56% of Putnam Managed Municipal Income Trust as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PMM. Jane Street Group LLC purchased a new position in Putnam Managed Municipal Income Trust in the fourth quarter valued at $203,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Putnam Managed Municipal Income Trust during the fourth quarter worth approximately $350,000. Van ECK Associates Corp raised its stake in shares of Putnam Managed Municipal Income Trust by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 341,484 shares of the company's stock worth $2,039,000 after purchasing an additional 11,828 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Putnam Managed Municipal Income Trust during the 4th quarter worth approximately $2,720,000. Finally, Invesco Ltd. increased its position in Putnam Managed Municipal Income Trust by 132.0% during the 4th quarter. Invesco Ltd. now owns 98,495 shares of the company's stock worth $588,000 after purchasing an additional 56,041 shares during the period. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Municipal Income Trust Stock Performance

NYSE PMM remained flat at $5.84 on Monday. The company's stock had a trading volume of 50,295 shares, compared to its average volume of 115,946. The firm has a fifty day moving average price of $5.91 and a 200-day moving average price of $6.10. Putnam Managed Municipal Income Trust has a 52 week low of $5.66 and a 52 week high of $6.61.

Putnam Managed Municipal Income Trust Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.0265 per share. This is a boost from Putnam Managed Municipal Income Trust's previous dividend of $0.02. The ex-dividend date was Monday, May 19th. This represents a yield of 5.27%.

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.