Sit Investment Associates Inc. Purchases 292,037 Shares of Putnam Managed $PMM

Key Points

• Sit Investment Associates Inc. increased its position in Putnam Managed by 130.8% in Q1, now owning over 515,000 shares valued at approximately $3.16 million.
• Multiple institutional investors, including Jane Street Group LLC and Raymond James Financial Inc., have recently made significant purchases of Putnam Managed shares, indicating growing interest in the company.
• Putnam Managed declared a dividend of $0.0265 per share, with an impressive yield of 537.0%, to be paid on August 29th, 2023.

Sit Investment Associates Inc. increased its stake in Putnam Managed (NYSE:PMM - Free Report) by 130.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 515,349 shares of the company's stock after acquiring an additional 292,037 shares during the quarter. Sit Investment Associates Inc. owned about 1.11% of Putnam Managed worth $3,159,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PMM. Jane Street Group LLC bought a new stake in Putnam Managed in the fourth quarter worth approximately $203,000. Hennion & Walsh Asset Management Inc. bought a new stake in Putnam Managed in the first quarter worth approximately $1,587,000. Advisor Resource Council bought a new stake in Putnam Managed in the first quarter worth approximately $406,000. Invesco Ltd. increased its holdings in Putnam Managed by 132.0% in the fourth quarter. Invesco Ltd. now owns 98,495 shares of the company's stock worth $588,000 after purchasing an additional 56,041 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Putnam Managed in the fourth quarter worth approximately $2,720,000. 13.54% of the stock is owned by institutional investors and hedge funds.

Putnam Managed Trading Down 0.3%

PMM stock traded down $0.0150 during mid-day trading on Wednesday, reaching $5.8050. The company's stock had a trading volume of 33,657 shares, compared to its average volume of 110,095. The business's 50 day moving average price is $5.89 and its 200 day moving average price is $6.00. Putnam Managed has a 12 month low of $5.66 and a 12 month high of $6.61.

Putnam Managed Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.0265 per share. The ex-dividend date is Monday, August 18th. This represents a dividend yield of 537.0%.

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.