Invesco Ltd. raised its position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM - Free Report) by 132.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,495 shares of the company's stock after purchasing an additional 56,041 shares during the quarter. Invesco Ltd. owned 0.21% of Putnam Managed Municipal Income Trust worth $588,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of PMM. Advisors Asset Management Inc. grew its stake in shares of Putnam Managed Municipal Income Trust by 22.9% in the 4th 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 in the last quarter. Wells Fargo & Company MN grew its position in Putnam Managed Municipal Income Trust by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 712,659 shares of the company's stock worth $4,255,000 after buying an additional 43,540 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Putnam Managed Municipal Income Trust during the 4th quarter worth approximately $2,720,000. Van ECK Associates Corp raised its stake in shares of Putnam Managed Municipal Income Trust by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 341,484 shares of the company's stock valued at $2,039,000 after buying an additional 11,828 shares in the last quarter. Finally, Sit Investment Associates Inc. lifted its stake in Putnam Managed Municipal Income Trust by 29.0% during the fourth quarter. Sit Investment Associates Inc. now owns 223,312 shares of the company's stock worth $1,333,000 after purchasing an additional 50,200 shares during the period. Institutional investors and hedge funds own 13.54% of the company's stock.
Putnam Managed Municipal Income Trust Price Performance
PMM stock remained flat at $5.94 during trading on Tuesday. The company had a trading volume of 77,330 shares, compared to its average volume of 118,072. The firm's fifty day moving average is $6.05 and its two-hundred day moving average is $6.15. Putnam Managed Municipal Income Trust has a twelve month low of $5.66 and a twelve month high of $6.61.
Putnam Managed Municipal Income Trust Announces Dividend
The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th were issued a $0.0238 dividend. This represents a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, April 17th.
Putnam Managed Municipal Income Trust Company Profile
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Free Report)
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.
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