Putnam Managed (NYSE:PMM) Plans $0.03 Monthly Dividend

Key Points

• Putnam Managed (NYSE:PMM) has declared a monthly dividend of $0.03, with an ex-dividend date of September 18th, representing a yield of 5.2%.
• The stock opened at $6.12, with a 52-week range of $5.66 to $6.61, and average moving prices of $5.89 over 50 days and $5.95 over 200 days.
• Institutional investors have actively increased their investments in Putnam Managed, with notable increases from Osaic Holdings, Bank of America, and Raymond James, bringing institutional ownership to 13.54%.

Putnam Managed (NYSE:PMM - Get Free Report) declared a monthly dividend on Thursday, August 7th. Investors of record on Thursday, September 18th will be given a dividend of 0.0265 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, September 18th.

Putnam Managed Stock Performance

PMM opened at $6.12 on Tuesday. The business has a fifty day moving average of $5.89 and a 200 day moving average of $5.95. Putnam Managed has a 52-week low of $5.66 and a 52-week high of $6.61.

Institutional Investors Weigh In On Putnam Managed

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. raised its position in Putnam Managed by 23.3% during the 2nd quarter. Osaic Holdings Inc. now owns 61,743 shares of the company's stock valued at $369,000 after purchasing an additional 11,659 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Putnam Managed in the 2nd quarter worth $110,000. Nomura Holdings Inc. bought a new position in shares of Putnam Managed in the 2nd quarter worth $60,000. Bank of America Corp DE raised its position in shares of Putnam Managed by 48.1% in the 2nd quarter. Bank of America Corp DE now owns 125,252 shares of the company's stock worth $749,000 after acquiring an additional 40,699 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of Putnam Managed by 11.8% in the 2nd quarter. Raymond James Financial Inc. now owns 526,601 shares of the company's stock worth $3,149,000 after acquiring an additional 55,674 shares in the last quarter. 13.54% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.