Sit Investment Associates Inc. Has $3.16 Million Stock Holdings in 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 position in Putnam Managed (NYSE:PMM - Free Report) by 130.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 515,349 shares of the company's stock after purchasing an additional 292,037 shares during the quarter. Sit Investment Associates Inc. owned 1.11% of Putnam Managed worth $3,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in 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 acquiring an additional 43,540 shares during the period. Invesco Ltd. lifted its stake in Putnam Managed by 132.0% during the fourth quarter. Invesco Ltd. now owns 98,495 shares of the company's stock valued at $588,000 after purchasing an additional 56,041 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Putnam Managed during the 4th quarter worth about $2,720,000. XTX Topco Ltd acquired a new position in Putnam Managed during the fourth quarter valued at $103,000. Finally, Guggenheim Capital LLC increased its stake in Putnam Managed by 20.4% in the 4th 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. Institutional investors and hedge funds own 13.54% of the company's stock.

Putnam Managed Price Performance

NYSE PMM traded down $0.0050 during trading on Thursday, reaching $5.7850. The company's stock had a trading volume of 50,742 shares, compared to its average volume of 109,925. The business has a 50-day moving average price of $5.89 and a 200-day moving average price of $6.00. Putnam Managed has a 1-year low of $5.66 and a 1-year high of $6.61.

Putnam Managed Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.0265 per share. The ex-dividend date is Monday, August 18th. This represents a 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.