PUTNAM MANAGED $PMM Position Increased by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in Putnam Managed by 9.8% during the first quarter, owning approximately $5.37 million worth of shares.
• Other significant investors, such as Nomura Holdings Inc. and Smallwood Wealth Investment Management LLC, also made large acquisitions in the same period.
• Putnam Managed has announced a monthly dividend of $0.0265, translating to an annual yield of 5.4%, with the payment set for October 31st.

Advisors Asset Management Inc. boosted its holdings in shares of PUTNAM MANAGED (NYSE:PMM - Free Report) by 9.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 875,831 shares of the company's stock after purchasing an additional 78,366 shares during the period. Advisors Asset Management Inc. owned approximately 1.89% of PUTNAM MANAGED worth $5,369,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PMM. Sit Investment Associates Inc. grew its holdings in shares of PUTNAM MANAGED by 130.8% during the first quarter. Sit Investment Associates Inc. now owns 515,349 shares of the company's stock worth $3,159,000 after buying an additional 292,037 shares in the last quarter. Invesco Ltd. lifted its position in PUTNAM MANAGED by 71.3% during the first quarter. Invesco Ltd. now owns 168,686 shares of the company's stock valued at $1,034,000 after buying an additional 70,191 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in PUTNAM MANAGED during the first quarter valued at approximately $55,000. XML Financial LLC acquired a new position in shares of PUTNAM MANAGED during the first quarter worth $142,000. Finally, Advisor Resource Council acquired a new position in shares of PUTNAM MANAGED during the first quarter worth $406,000. Institutional investors and hedge funds own 13.54% of the company's stock.

PUTNAM MANAGED Trading Up 0.2%

PMM traded up $0.02 during trading on Tuesday, hitting $6.02. The company had a trading volume of 88,819 shares, compared to its average volume of 110,781. The business has a 50-day moving average of $5.88 and a 200-day moving average of $5.96. PUTNAM MANAGED has a 1-year low of $5.66 and a 1-year high of $6.61.

PUTNAM MANAGED Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a $0.0265 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a c) annualized dividend and a yield of 5.3%.

PUTNAM MANAGED 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.