Ameriprise Financial Inc. Sells 55,871 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

Ameriprise Financial Inc. lowered its holdings in shares of Putnam Managed Municipal Income Trust (NYSE:PMM - Free Report) by 17.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 259,547 shares of the company's stock after selling 55,871 shares during the period. Ameriprise Financial Inc. owned 0.56% of Putnam Managed Municipal Income Trust worth $1,549,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PMM. Advisors Asset Management Inc. raised its stake in Putnam Managed Municipal Income Trust 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 raised its stake in Putnam Managed Municipal Income Trust by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 712,659 shares of the company's stock valued at $4,255,000 after acquiring an additional 43,540 shares during the period. Guggenheim Capital LLC lifted its holdings in Putnam Managed Municipal Income Trust by 20.4% during the 4th quarter. Guggenheim Capital LLC now owns 712,551 shares of the company's stock valued at $4,254,000 after purchasing an additional 120,948 shares during the last quarter. Raymond James Financial Inc. bought a new position in Putnam Managed Municipal Income Trust during the fourth quarter worth $2,720,000. Finally, Van ECK Associates Corp boosted its position in 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 period. Institutional investors own 13.54% of the company's stock.

Putnam Managed Municipal Income Trust Price Performance

Shares of NYSE:PMM traded up $0.03 on Wednesday, hitting $5.88. The company had a trading volume of 101,344 shares, compared to its average volume of 116,886. The stock has a 50 day moving average price of $5.93 and a 200 day moving average price of $6.10. Putnam Managed Municipal Income Trust has a 1-year low of $5.66 and a 1-year high of $6.61.

Putnam Managed Municipal Income Trust Increases Dividend

The business also recently declared a dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 20th were paid a $0.0265 dividend. The ex-dividend date was Monday, May 19th. This represents a yield of 5.27%. This is a positive change from Putnam Managed Municipal Income Trust's previous dividend of $0.02.

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.