Putnam Managed to Issue Monthly Dividend of $0.03 (NYSE:PMM)

Key Points

• Putnam Managed declared a monthly dividend of $0.0265 per share, set for distribution on November 28th, representing a yield of 5.4%.
• The company's stock recently traded at $5.85, experiencing a slight decline of 0.2% in value during trading.
• Significant institutional investment activity occurred, with Wells Fargo increasing its stake by 6.5% and other firms also raising their positions in Putnam Managed shares.

Putnam Managed (NYSE:PMM - Get Free Report) declared a monthly dividend on Friday, August 8th, Wall Street Journal reports. Investors of record on Monday, November 17th will be given a dividend of 0.0265 per share on Friday, November 28th. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Monday, November 17th.

Putnam Managed Trading Down 0.2%

PMM stock traded down $0.01 during trading on Friday, hitting $5.85. The company had a trading volume of 78,738 shares, compared to its average volume of 111,594. Putnam Managed has a 52-week low of $5.66 and a 52-week high of $6.61. The company has a 50 day simple moving average of $5.89 and a 200-day simple moving average of $6.02.

Institutional Investors Weigh In On Putnam Managed

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its stake in shares of Putnam Managed by 6.5% during the 4th quarter. Wells Fargo & Company MN now owns 712,659 shares of the company's stock worth $4,255,000 after purchasing an additional 43,540 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of Putnam Managed by 37.2% in the 4th quarter. Wedbush Securities Inc. now owns 14,007 shares of the company's stock worth $84,000 after buying an additional 3,800 shares during the last quarter. Invesco Ltd. raised its stake in shares of Putnam Managed by 132.0% during the 4th quarter. Invesco Ltd. now owns 98,495 shares of the company's stock worth $588,000 after acquiring an additional 56,041 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Putnam Managed during the fourth quarter valued at approximately $2,720,000. Finally, XTX Topco Ltd acquired a new stake in Putnam Managed in the fourth quarter valued at approximately $103,000. Institutional investors own 13.54% of the company's stock.

Putnam Managed Company Profile

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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