PUTNAM MANAGED (NYSE:PMM) Raises Dividend to $0.03 Per Share

PUTNAM MANAGED (NYSE:PMM - Get Free Report) announced a monthly dividend on Wednesday, July 9th, Wall Street Journal reports. Shareholders of record on Friday, July 18th will be given a dividend of 0.0265 per share on Thursday, July 31st. This represents a $0.32 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Friday, July 18th. This is a 11.3% increase from PUTNAM MANAGED's previous monthly dividend of $0.02.

PUTNAM MANAGED Trading Down 0.2%

PUTNAM MANAGED stock traded down $0.01 during mid-day trading on Friday, hitting $5.93. 51,234 shares of the company's stock were exchanged, compared to its average volume of 113,732. PUTNAM MANAGED has a 1-year low of $5.66 and a 1-year high of $6.61. The stock has a 50 day moving average of $5.93 and a two-hundred day moving average of $6.04.

Institutional Investors Weigh In On PUTNAM MANAGED

An institutional investor recently raised its position in PUTNAM MANAGED stock. NewEdge Advisors LLC grew its position in PUTNAM MANAGED (NYSE:PMM - Free Report) by 41.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,381 shares of the company's stock after acquiring an additional 10,014 shares during the quarter. NewEdge Advisors LLC owned 0.07% of PUTNAM MANAGED worth $211,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.54% of the company's stock.

About PUTNAM MANAGED

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.