Hennion & Walsh Asset Management Inc. Purchases 444,374 Shares of Putnam Managed $PMM

Key Points

• Hennion & Walsh increased its stake in Putnam Managed by 78.7%, buying 444,374 shares to own 1,009,350 shares (about 2.17%) worth roughly $6.33 million.
• Putnam Managed declared a monthly dividend of $0.0265 payable May 29 (record/ex-dividend date May 21), implying an annualized yield of about 5.3%.
• Shares recently traded around $5.95 (52-week range $5.66–$6.52) with a 50-day/200-day moving average of $6.28/$6.19, and institutional investors hold about 13.54% of the stock.

Hennion & Walsh Asset Management Inc. raised its position in shares of Putnam Managed (NYSE:PMM - Free Report) by 78.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,009,350 shares of the company's stock after acquiring an additional 444,374 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 2.17% of Putnam Managed worth $6,329,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. WealthCare Investment Partners LLC bought a new position in shares of Putnam Managed in the 3rd quarter worth about $61,000. Nomura Holdings Inc. bought a new stake in shares of Putnam Managed during the 2nd quarter valued at about $60,000. Virtu Financial LLC acquired a new stake in Putnam Managed during the third quarter worth approximately $69,000. Northwestern Mutual Wealth Management Co. grew its stake in Putnam Managed by 18.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 11,873 shares of the company's stock worth $72,000 after purchasing an additional 1,873 shares during the period. Finally, Readystate Asset Management LP bought a new stake in Putnam Managed in the third quarter worth approximately $94,000. 13.54% of the stock is currently owned by institutional investors and hedge funds.

Putnam Managed Price Performance

Shares of PMM opened at $5.95 on Monday. Putnam Managed has a 52-week low of $5.66 and a 52-week high of $6.52. The business's 50 day moving average price is $6.28 and its two-hundred day moving average price is $6.19.

Putnam Managed Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a $0.0265 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 5.3%.

About Putnam Managed

Putnam Managed Municipal Income Trust NYSE: PMM is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.

Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.

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