Advisor Resource Council Buys Shares of 66,293 PUTNAM MANAGED (NYSE:PMM)

Advisor Resource Council bought a new stake in PUTNAM MANAGED (NYSE:PMM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 66,293 shares of the company's stock, valued at approximately $406,000. Advisor Resource Council owned about 0.14% of PUTNAM MANAGED at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in shares of PUTNAM MANAGED by 22.9% in the fourth quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company's stock valued at $4,761,000 after buying an additional 148,493 shares during the period. Wells Fargo & Company MN increased its stake in shares of PUTNAM MANAGED by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 712,659 shares of the company's stock valued at $4,255,000 after buying an additional 43,540 shares during the period. Guggenheim Capital LLC increased its stake in shares of PUTNAM MANAGED by 20.4% in the fourth quarter. Guggenheim Capital LLC now owns 712,551 shares of the company's stock valued at $4,254,000 after buying an additional 120,948 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of PUTNAM MANAGED in the fourth quarter valued at about $2,720,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of PUTNAM MANAGED in the first quarter valued at about $1,587,000. Institutional investors and hedge funds own 13.54% of the company's stock.

PUTNAM MANAGED Price Performance

Shares of PMM stock opened at $5.87 on Monday. The stock has a 50-day moving average of $5.91 and a 200-day moving average of $6.07. PUTNAM MANAGED has a 1-year low of $5.66 and a 1-year high of $6.61.

PUTNAM MANAGED Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $0.0265 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 5.39%.

About PUTNAM MANAGED

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.

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