Putnam Managed (NYSE:PMM - Get Free Report) announced a monthly dividend on Wednesday, July 9th, Wall Street Journal reports. Stockholders of record on Friday, July 18th will be paid a dividend of 0.0265 per share on Thursday, July 31st. This represents a $0.32 annualized dividend and a dividend yield of 5.34%. 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
Putnam Managed stock traded up $0.01 during mid-day trading on Wednesday, hitting $5.96. The company's stock had a trading volume of 75,631 shares, compared to its average volume of 114,071. The company has a 50 day moving average of $5.93 and a 200-day moving average of $6.04. Putnam Managed has a one year low of $5.66 and a one year high of $6.61.
Hedge Funds Weigh In On Putnam Managed
An institutional investor recently raised its position in Putnam Managed stock. NewEdge Advisors LLC raised its position in shares of Putnam Managed (NYSE:PMM - Free Report) by 41.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,381 shares of the company's stock after purchasing an additional 10,014 shares during the period. NewEdge Advisors LLC owned about 0.07% of Putnam Managed worth $211,000 as of its most recent filing with the Securities & Exchange Commission. 13.54% of the stock is owned by institutional investors.
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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