PUTNAM MANAGED (NYSE:PMM - Get Free Report) announced a monthly dividend on Wednesday, July 9th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 5.31%. 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 Stock Performance
Shares of PMM stock traded up $0.01 on Thursday, hitting $5.99. 23,592 shares of the stock traded hands, compared to its average volume of 113,893. PUTNAM MANAGED has a 1-year low of $5.66 and a 1-year high of $6.61. The company's fifty day moving average is $5.93 and its 200 day moving average is $6.04.
Institutional Investors Weigh In On PUTNAM MANAGED
A hedge fund recently raised its stake in PUTNAM MANAGED stock. NewEdge Advisors LLC boosted its stake in PUTNAM MANAGED (NYSE:PMM - Free Report) by 41.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,381 shares of the company's stock after buying an additional 10,014 shares during the period. 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
(
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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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